Group 1 - The upcoming Diwali festival in India has triggered a significant surge in consumer spending, reaching a total of 1 trillion rupees (approximately 81 billion yuan), with gold and silver purchases accounting for a substantial portion of this amount [2] - Gold and silver sales during this period have seen a remarkable increase, with silver sales alone reaching 600 billion rupees, marking a 25% growth compared to the same period last year [2] - The rising international gold prices have led consumers to shift their focus towards silver, resulting in a shortage of silver bars in stores, with some retailers experiencing a complete sell-out of their silver inventory for the first time [2][3] Group 2 - The surge in silver demand in India has compelled suppliers to look towards international markets, exacerbating the global silver supply crunch, leading to a historic shortage in the global silver market [3] - The severe imbalance between supply and demand has caused the London silver premium to soar above $5 per ounce, the highest level since 1980, illustrating the market volatility triggered by India's festive buying spree [3] - Silver's natural scarcity, combined with its unique physical properties and dual value in industrial applications and investment, ensures a stable demand in the global market [3][7] Group 3 - Peru holds the largest silver reserves globally, with approximately 90,000 tons identified in 2020, accounting for 18.2% of the world's total silver reserves [5] - Other countries with significant silver reserves include Australia, Poland, Russia, and China, which collectively contribute to the global silver supply [5] - The current buying frenzy during the Diwali festival not only highlights the strong consumer drive associated with traditional Indian festivals but also exposes the vulnerabilities within the global silver supply chain [7]