Silver Plunges $12 as Profit-Taking Hits All-Time High; Geopolitical Tensions Ease

• Spot silver price dropped $12 to $73/ounce after hitting an all-time high of $82.95.
• Domestic MCX futures fell 12.12% from peak, closing at ₹2,23,900 per kg.
• Decline attributed to profit-taking and easing Russia-Ukraine geopolitical tensions.
• Expert Renisha Chainani notes silver's sensitivity to global uncertainty and policy responses.
• Augmont report suggests bull trend continues if prices stay above $75 (₹2,40,000).

Why It Matters: Silver prices saw a sharp correction due to profit-taking and reduced safe-haven demand.