27 Oct 2025 | 5 Mins Read
India's silver squeeze sparked by an unexpected trigger
Flipitmoney
In October 2025, Indian silver ETFs absorbed ₹10,000 crore in a few weeks, creating a 620-tonne fresh physical demand. However, India imports only 6,000-7,000 tonnes annually, leading to a spot price surge from ₹1.24 lakh to ₹1.65 lakh per kg. The ETFs disconnected from physical reality, while MCX futures remained calm, signalling a temporary squeeze.