Silver Prices Plummet by Nearly 3% as Investors Book Profits
Silver prices retreated from record highs to trade lower by nearly 3% at Rs 2.32 lakh per kg in the futures trade on Monday as investors booked profits after sharp gains amid weak global trends. In a highly volatile session on Monday, silver touched a lifetime high of Rs 2,54,174 per kg in early trade, prompting investors to take profits.
Silver futures plummeted by Rs 7,124, or 2.97%, to hit a low of Rs 2,32,663 per kg on the Multi-Commodity Exchange. In the last week, the white metal soared by 15.04%, or Rs 31,348, on MCX.
Gold Prices End Four-Day Rally Due to Profit-Booking
Gold opened higher but pared gains due to profit-booking, snapping a four-day rally. Gold futures depreciated Rs 1,497, or 1.07%, to Rs 1,38,376 per 10 grams. It had scaled a fresh peak of Rs 1,40,465 per 10 grams on Friday.
According to Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, gold and silver prices retreated from record highs in the European trading session on Monday as traders booked profit after a record-breaking rally.
Gandhi further stated that both gold and silver are in overbought territory on higher time frames, which is indicated as a caution sign and a need for healthy correction before the rally continues.
Global Trends: Silver and Gold Prices Retreat
On the global front, the March 2026 contract of silver retreated sharply from its record levels. On the Comex, the white precious metal declined by $3.49, or 4.51%, to $73.71 per ounce. Earlier in the session, silver futures breached the $80-per-ounce mark for the first time, reaching a record $82.67 per ounce, up by $5.47, or 7.09%.
Meanwhile, gold for February delivery was trading lower by $72.55, or 1.59%, to $4,480.15 per ounce. In the intraday session, it hit a high of $4,581.3 per ounce. On Friday, the yellow metal had touched a new record of $4,584 per ounce.
What’s Next for Indian Investors?
As the Indian stock market continues to be volatile, investors are advised to stay cautious and keep an eye on global trends. The commodity market is known for its unpredictability, and investors should be prepared for any eventuality.
To stay ahead of the curve, investors can visit our website for the latest market news and updates. Our expert analysts provide stock market tips and insights to help investors make informed decisions.
Conclusion
In conclusion, the recent retreat of silver and gold prices from record highs is a reminder of the volatility of the commodity market. Indian investors should stay cautious and keep an eye on global trends to make informed decisions. By visiting our website and following our expert analysts, investors can stay ahead of the curve and make the most of the opportunities in the market.