Nilesh Shah draws parallels between gold and silver. (Photo Source: Envato) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Silver is the "poor man's gold", said Nilesh Shah, drawing parallels between the devil's metal and the yellow metal while speaking at NDTV Profit IGNITE's Diwali Edition.

The managing director of Kotak Mahindra AMC noted that industrial demand, especially from the solar energy sector, is pushing silver prices higher, while reports of Saudi Arabian banks purchasing Silver ETFs have added to the momentum.

"People are outrunning central banks," Shah said, pointing out how central banks bought gold and investor sentiment rallied in turn. "These are commodities — they go up and down," he added, emphasising the cyclical nature of precious metals.

Earli

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