Investors who poured money into gold and silver during the festive season are facing immediate losses, with silver ETF buyers taking the heaviest hit. Prices have slumped sharply after an aggressive rally, exposing those who entered at elevated levels to near double-digit drawdowns.

Since peaking on 14 October, domestic spot 999 silver has dropped 15% to ₹152,501 per kg as of 22 October, data from the Indian Bullion and Jewellers Association (IBJA) shows. But the real pain is visible in silver ETFs, which were trading at steep premiums during the festive surge. Nippon Silver Bees and ICICI Prudential Silver ETF—India’s largest silver funds—have plunged 17% and 16% respectively. Advertisement

Gold hasn't been spared either. Spot 995 gold has fallen 1.7% to ₹123,411 per 10g, while Nippon

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