Silver Price Plunges 5.15% as Trump's Remarks Trigger Rs 16,500 Fall

• Silver price dropped by 5.15%, a fall of Rs 16,500 per kilogram, due to investors booking profits.
• US President Donald Trump's softer stance on Greenland and withdrawal of tariff threats on European nations influenced the market.
• IBJA reported silver at Rs 3,03,584 per kilogram on January 22, down from Rs 3,20,075.
• MCX domestic futures were trading lower at Rs 3,15,800, a 0.85% decline.
• Augmont Bullion report indicates strong support at $90.5 (Rs 3,00,000), suggesting potential for prices to rise towards $99-$100 (Rs 3,50,000) despite near-term profit-taking.

Why It Matters: Silver prices fell sharply due to Trump's policy shifts, but strong support levels suggest potential for recovery.