Silver Prices Plunge Amidst Global Jolt, Investors Eye Future Gains
Business
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News18•31-01-2026, 09:39
Silver Prices Plunge Amidst Global Jolt, Investors Eye Future Gains
- •Silver prices surged over 30% last month, reaching all-time highs, but experienced a sharp single-day fall due to international developments and profit booking.
- •In the international market, an ounce of silver dropped $36 to $78, while gold fell $594 to $4,732 on Friday.
- •Hyderabad bullion market saw 1 kg silver fall by Rs. 1 lakh to Rs. 2,99,000; 10 grams of 24-carat gold decreased by Rs. 21,860 to Rs. 1,57,840.
- •MCX silver March contract lost 27% in a day, closing at Rs. 2,91,922 per kg; gold April contract lost almost 18%.
- •Citi brokerage predicts silver could reach $150 per ounce in three months; experts foresee a 30-40% increase due to industrial demand and supply shortages.
Why It Matters: Despite recent volatility, silver is projected to rise significantly in the coming months due to strong demand.
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