The festive season traditionally sees a rise in gold and silver buying, but this year, silver has stolen the spotlight. Jewelers and bullion dealers across major cities report strong pre-Diwali buying, driven by both traditional demand and speculative interest from retail investors. The sharp rally in the spot market has not only amplified silver’s visibility but also triggered a wave of short-term trading activity, as prices continue to climb beyond historical norms. Advertisement

On the NSE, top-performing silver ETFs such as SBI Silver, HDFC Silver, and Axis Silver have surged between 9% and 13% as of October 9’s close, trading significantly above their underlying net asset values (NAVs).

According to market analysts, retail investors have played a decisive role in pushing up silver

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