Silver Prices Slide as Investors Take Profits

Silver prices continued their decline on Friday, August 14, as investors took profits after a recent rally in precious metals.

The COMEX silver contract traded at $64.09 per ounce, down $0.903 or 1.39% from the previous close of $64.63.

Silver prices had risen to a high of $64.88 an ounce but fell to a low of $63.845 an ounce before rebounding slightly.

The decline in silver prices comes after a sharp drop in India on Thursday, with the metal falling ₹6,000 to ₹2.40 lakh per kilogram in New Delhi according to the All India Sarafa Association.

The correction is attributed to a strong run-up in prices and a broader sell-off in precious metals.