Silver prices soar to $51 per ounce, hitting record high
Silver just broke past $51 an ounce, thanks to a global supply crunch.
The shortage is hitting major markets like London and has led Kotak, UTI, and SBI Mutual Funds in India to stop fresh lump sum subscriptions to their Silver ETF Fund of Fund.
Market watchers like Advait Arora are flagging big deficits on trading platforms, warning this could shake up prices if things don't improve soon.
Axis Mutual Fund advises investors to stay put
Central banks and investors are snapping up silver, making the supply crunch even tighter.
Axis Mutual Fund sees this as a sign that silver prices could stay strong for a while.
Additionally, Jateen Trivedi notes that India's festive season is boosting demand even more. Prices have now crossed ₹1,50,000 per kg on MCX.
Despite short-term price swings, Axis suggests long-term investors hang tight since silver remains a strategic asset amid all this action.