Silver Crashes After Record High: Investors Profit-Book Amid US Data Caution

• Silver prices plummeted by 1.61% on MCX to ₹2,54,650/kg after hitting a record high of ₹2,59,692/kg.
• The sharp fall was attributed to profit-booking by traders and caution ahead of key US economic data.
• Globally, Comex silver futures also dropped by 1.74% to $79.63/ounce, after nearing a record $82.58/ounce.
• Gold futures saw limited fluctuations, falling 0.46% to ₹1,38,450/10 grams, indicating slight profit-booking.
• Investors are focused on upcoming US jobs report and potential Fed interest rate cuts, alongside geopolitical tensions.

Why It Matters: Silver prices crashed due to profit-booking and US economic data anticipation after reaching record highs.