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Commodities

Silver Prices Plummet in India as Investors Take Profits

Guavy AI Editorial Team
Instruments
Silver
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The price of silver in India has fallen significantly, with futures prices on the Multi Commodity Exchange (MCX) declining by 1% or ₹2556 to ₹2.33 lakh per kg in early trade today.

This comes a day after a major drop in silver prices in India, with the price falling by ₹6000 to ₹2.40 lakh per kg on Thursday (August 13).

The decline is attributed to profit-taking by investors following the rally in bullion prices due to expectations of easing US monetary policy.

Silver prices are also sensitive to industrial demand, as it is used in electronics and solar equipment manufacturing, making them vulnerable to changes in both investment demand and global economic outlook.

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