New Delhi: India is witnessing a significant shortage of silver ahead of Diwali. World’s largest consumer of silver, the country is witnessing domestic prices rise roughly 10 percent above international levels. Heavy festival demand and investment activity have intensified the pressure. Silver Exchange-Traded Funds (ETFs) have paused new purchases, while jewellers struggle to meet consumer demand during the festive season.

Why The Shortage Is Happening

Global silver demand has exceeded supply over the past four years. The surplus from the previous five years has been exhausted. In 2025, production is still insufficient to meet demand. Around 70 percent of silver is produced as a byproduct of other metals, so production cannot quickly scale up even with rising prices.

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