World2h ago
Silver crashes 40%, but buyers vanish; 2,000 tonnes could now pile up in India
AI EXECUTIVE SUMMARY
Silver prices have experienced a significant seven-month decline following a historic rally that saw the metal surge over 300% year-on-year. Earlier in January, prices had reached unprecedented levels, crossing Rs 4 lakh per kg on the Multi Commodity Exchange. However, the current market downturn has resulted in a lack of buyers, potentially leaving thousands of tonnes of silver unsold in India.
WHY IT MATTERS
This sharp correction in the domestic silver market threatens to strand massive physical inventories in India following a period of extreme price volatility.
Silver prices have fallen steadily over the past seven months, following an extraordinary rally that pushed the metal more than 300% higher year-on-year. In January, silver crossed Rs 4 lakh per kg on the Multi Commodity Exchange for the first time.
This story was originally reported by Times of India — Top Stories. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.
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