Silversmiths of Hupari and adjacent villages observed one-day ‘bandh' on Monday in protest against the high and unstable prices of silver.

Hand-made ornament

The industry is facing recession particularly in the hand-made silver ornament sector. Hupari in Kolhapur district is a well-known centre for silver jewellery.

The silver merchants' association said it was because of inclusion of gold and silver in commodities exchange and stock market that the prices of the precious metals had been increasing.

Commodities exchange

Unless these commodities were removed from the exchange market, the prices would not remain stable, which was necessary for the stability in market and in the industry, they added.