Silver Prices Plummet: Big Drop on MCX, International Markets; Geopolitical Tensions Add Pressure

• Silver futures on MCX fell sharply by 5.18% to ₹2,31,175 per kilogram on Friday, reflecting significant selling pressure.
• In the international market, Comex silver prices dropped to $70.47 per ounce on February 5, an 8.1% decline from the previous close.
• Geopolitical events, including the US Navy shooting down an Iranian drone and upcoming Iran-US nuclear talks, influenced market direction.
• A partial US government shutdown ended with President Trump signing a spending deal, bringing some stability but not easing silver's pressure.
• Weak US private job data and signals from the Federal Reserve about persistent inflation risks also contributed to the market sentiment.