Brief by Shorts91 Newsdesk / 05:06am on 20 Oct 2025,Monday India Global
India's unprecedented silver demand during Dhanteras and Diwali triggered a global crisis, shocking London markets. MMTC-Pamp India, the country's largest refinery, depleted stocks for the first time in history as buyers shifted from record-high gold to silver. Social media influencers promoted silver's favorable 100-to-1 gold ratio, sparking viral buying frenzy. London vaults ran dry as ETF investors held $36 billion in silver. JPMorgan informed clients it couldn't deliver October silver to India. Prices surged above $54 per ounce before plunging 6.7%. Indian premiums skyrocketed from cents to $5 per ounce. Kotak, UTI, and SBI halted silver fund subscriptions. Major banks stopped quoting prices amid extreme market stress. (PC: APN News)
