India’s unprecedented silver buying spree is sending ripple effects worldwide, with London grappling with severe shortages, according to a report of Bloomberg News. This festival season Indian investors are rushing to buy silver-based jewelleries or silver ETFs, leading to a crunch of physical silver. The demand has also amplified after several fin influencers such as Sarthak Ahuja promoted silver’s 100-to-1 ratio to gold.

The Bloomberg News report added that India’s largest precious metals refinery, MMTC-Pamp, exhausted silver stock for the first time ever in the history. Silver shortage has prompted bidding wars among dealers.

The demand is so high that premiums in India surged above $5 an ounce, far higher than usual.

Global Ripple Effect

Shortage of silver is clearly perceptible at

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