Page 39 - Bullion World Issue 12 Volume 05 December_2025

NEWS

Indian consumers can formally monetize their silver,

changing the game for the precious metal - Metals Focus

India stands as the pivotal force behind 2025's record silver investment
demand, driving prices beyond $59 per ounce, as the world's second-
largest physical silver market-capturing nearly 80% of global bar and
coin demand-while dominating jewellery and silverware consumption
by volume. Over five years, Indians, especially rural lower- and middle-
income households, amassed 29,000 tonnes in jewellery (anklets, toe
rings, utensils) and 4,000 tonnes in coins, traditionally key to rural wealth
alongside gold.

A landmark RBI rule, effective April 2026, enables pledging silver holdings
for formal credit via banks, NBFCs, and housing finance firms under a
standardized framework-addressing longstanding purity risks in alloyed
traditional pieces and marking silver's entry into regulated collateral
alongside gold loans (~700 tonnes formal, $38B value, up from $8B in
2021). Anticipation of this policy spiked October silver imports to $2.72B
(vs. $0.43B in 2024), triggered London OTC supply crunches with
record lease rates, and sustained prices near highs amid depleted global
stockpiles, positioning silver as a complementary monetization asset.

Source -
https://www.kitco.com/news/article/2025-12-04/indian-consumers-can-formally-monetize-their-silver-changing-
game-precious

SGB alert: Massive 332% return! RBI sets final redemption price for

SGB 2017-18 Series X maturing Dec 4; check price

The Reserve Bank of India has announced the final redemption price
for the Sovereign Gold Bond (SGB) 2017-18 Series X, which is due
for maturity on December 4, 2025. Issued on December 4, 2017, this
tranche completes its eight-year tenure in line with the Government of
India’s notification dated October 6, 2017.

Accordingly, the redemption price for the upcoming maturity has been
fixed at Rs 12,820 per unit. This price is derived from the average
closing prices recorded on December 1, 2, and 3, 2025. Investors who
subscribed to this tranche can expect the proceeds to be credited
to their bank accounts on the redemption date, offering them returns
aligned with the strong performance of gold prices over the eight-year
period.

Source -
https://www.moneycontrol.com/news/business/personal-finance/sgb-alert-massive-332-return-rbi-sets-final-
redemption-price-for-sgb-series-x-maturing-dec-4-check-price-13709173.html