Silver Prices Retrace After Hitting Record Highs
Silver futures on MCX hit a lifetime high of ₹2.54 lakh before retreating on profit-booking.
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NEW DELHI- On December 29, silver prices witnessed extreme volatility on the MCX, retreating 3% from a fresh record high of ₹2,54,174 per kg. Investors engaged in heavy profit-booking following a massive 15% rally last week, triggered by global supply concerns.
Meanwhile, gold prices also cooled off, snapping a four-day winning streak to trade near ₹1,38,400 per 10 grams. Market experts suggest the correction is a healthy response to overbought conditions, influenced by a strengthening dollar and evolving geopolitical headlines.
