Silver Crashes 24% on MCX, Gold Down 9%; Investor Fear Rises Amid Volatility

• Silver futures on MCX plummeted by 24% to 3,03,371 rupees per kilogram in evening trading on January 30.
• Gold futures also experienced a significant decline, trading 9% lower, causing concern among investors.
• Experts attribute the strengthening dollar, following the announcement of the new Federal Reserve chairman, to the fall in precious metals.
• Silver exhibits higher volatility than gold, leading to a more substantial drop after a period of continuous gains.
• Despite the fall, experts advise against panic, stating gold's fundamentals remain strong and suggest maintaining 5-10% asset allocation in precious metals.

Why It Matters: Silver crashed 24% and gold fell 9% on MCX due to a stronger dollar, but gold's fundamentals remain strong.