Silver Prices Plunge 8.35% in a Week; CME Margin Hikes Trigger Sell-off

• Spot silver dipped 8.35% in a week, despite a 2.22% daily gain on Jan 2, reaching $72.58 per ounce.
• Domestic MCX futures for 999 purity silver stood at Rs 2,40,349 per kg, up 1.9% daily but down 5.44% from its Dec 29 peak.
• Augmont Bullion report attributes the sharp decline to a severe correction after silver hit $84 on Dec 30, losing over 15% in 48 hours.
• CME Group's two margin hikes for March 2026 silver futures (from $22,000 to $25,000 on Dec 26, then to $32,500 on Dec 30) triggered forced liquidations.
• Outlook predicts silver to consolidate between $70-$76 (Rs 2,23,000 - Rs 2,42,000) this week after the recent volatility.

Why It Matters: Silver prices saw a significant weekly dip due to CME Group's margin hikes causing a cascade sell-off.