As many as five mutual fund houses – Kotak Mutual Fund , SBI Mutual Fund , UTI Mutual Fund , Tata Mutual Fund and ICICI Prudential Mutual Fund – have so far temporarily halted new investments in their silver ETF funds of funds (FoFs) amid an unabated surge in silver prices in the domestic market.

Silver rates see massive 54% rise in 6 months

MCX silver is trading at around Rs 1.59 lakh per kg, a massive 64% jump in the last one year and a whopping 54% surge in just 6 months.

Here’s what fund houses have to say on temporary suspension

The fund houses have stated that the decision to temporarily pause subscription was taken in the best interest of investors, as silver prices are currently commanding unusually high premiums in the domestic market.

Kotak Mutual Fund was the firs

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