Gold and Silver Prices Crash: Silver Down Rs 27,000, Gold Rs 2,300 in Rollercoaster Market

• Silver futures prices plummeted by Rs 27,000 per kilogram today, reaching Rs 2.42 lakh, after a Rs 14,000 rise just yesterday.
• Gold prices also saw a significant drop of Rs 2,310 per 10 grams, settling at Rs 1,50,736 for April delivery contracts.
• The sharp decline, up to 10% for silver and 1.25% for gold, is attributed to weak trends in international markets and a strong US dollar.
• Renisha Chainani of Augmont noted renewed selling pressure and increased volatility, breaking a two-day winning streak for precious metals.
• Globally, Comex silver fell over 10% to $75.55 per ounce, while gold dropped 1.61% to $4,870.9 per ounce, driven by a stronger dollar and Federal Reserve's hawkish stance.