Silver’s quiet rise: How India, EVs, and ETFs are reshaping its safe-haven role

Until recently, bullion dealers accounted for the bulk of physical purchases of silver. However, the demand for physical silver is now being driven by ETFs. There’s also a second big shift. Mint analyses this dual-engine boom.

Jan 5, 2026 - 14:00
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Silver’s quiet rise: How India, EVs, and ETFs are reshaping its safe-haven role
Until recently, bullion dealers accounted for the bulk of physical purchases of silver. However, the demand for physical silver is now being driven by ETFs. There’s also a second big shift. Mint analyses this dual-engine boom.

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