India’s silver-focused exchange traded funds (ETFs) which traded at a premium of 5-10% over net asset value in early October have now reverted to fair value levels. The premium arose when global silver prices spiked past US$40-50/oz amid physical shortage concerns ahead of Dhanteras. Domestic fund houses briefly halted new money into Silver ETF FoFs. With the premium easing, analysts suggest it may present a secondary entry point for investors, though they caution about volatility and physical-metal liquidity risks in the near term.