Silver prices plunge over 2,200 rupees per kg in sharp reversal

Silver futures trading on the MCX witnessed a sharp reversal of fortunes on Tuesday, with prices tumbling more than 2,200 rupees per kilogram from earlier levels. The metal had initially opened on a positive note but quickly surrendered gains as selling pressure mounted throughout the session.

The sudden downward movement caught traders off-guard, as the commodity extended its recent weakness in the precious metals complex. The decline marks another significant setback for silver investors tracking the domestic market.

Gold also came under pressure during the same session, recording substantial losses alongside silver. The dual decline in precious metals suggests broader weakness in the sector, potentially reflecting shifts in investor sentiment or macroeconomic headwinds affecting commodity prices.

The MCX precious metals market remains volatile as traders reassess positions amid fluctuating global cues and domestic demand factors. Market participants are closely monitoring price movements as they navigate the current trading environment.