Silver Plummets 30% from Record High: Profit-Taking, Strong Dollar Drive Decline
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News18•31-01-2026, 16:52
Silver Plummets 30% from Record High: Profit-Taking, Strong Dollar Drive Decline
- •Silver prices have fallen nearly 30% from their record highs, surprising investors at the end of January.
- •A strong US dollar, weakness in gold prices, and changing Federal Reserve signals contributed to the sharp decline.
- •Rapid price increases led to significant profit-taking by traders and investors, exacerbating the fall.
- •MCX March delivery silver saw its largest single-day drop, falling approximately 16.97% to 3,32,002 rupees per kilogram.
- •Budget 2026's stance on import duties and tax structure for silver could significantly impact future prices and demand, especially given its industrial use and India's high import dependency.
Why It Matters: Silver prices crashed 30% from record highs due to profit-taking, a strong dollar, and global cues.
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