Gold, Silver Futures Plunge Amid Profit-Booking, Strong Dollar

• Gold and silver futures plunged due to profit-booking, weak global cues, and a strong US dollar.
• February gold futures on MCX dropped by Rs 1,098 (0.8%) to Rs 1,35,568 per 10 grams.
• March 2026 silver futures tanked by 7.48% (Rs 18,784) to Rs 2,32,228 per kg, later recovering some losses.
• Globally, Comex gold futures fell 1.05% to USD 4,340.35/ounce; silver futures slid 8.43% to USD 71.35/ounce.
• Despite the pullback, both metals are on track for their strongest annual gains since 1979 by end of 2025.

Why It Matters: Gold and silver futures fell sharply due to profit-booking and a strong dollar, despite strong annual gains.