Hyderabad Silver Prices Crash: Rs. 70,000 Drop in a Week, First Time Since 1980

• Hyderabad silver prices witnessed a 'bloodbath', dropping Rs. 70,000 per kg in just one week, a first since 1980.
• After reaching a record high of Rs. 4.10 lakh per kg on January 29, prices plummeted to Rs. 2.85 lakh by February 7.
• Massive profit booking by investors, especially from Silver ETFs, contributed to the sharp decline.
• MCX regulations, including increased margin limits, forced traders to sell positions, exacerbating the fall.
• International factors like a stronger US dollar, de-escalation of US-Iran tensions, and a drop in global silver prices also played a role.