Silver Plummets in Vijayawada: Investors Face Bloodbath as Prices Drop by ₹20,000/kg

• Silver prices in Vijayawada bullion market fell by ₹20,000 per kg on Thursday, reaching ₹3 lakhs per kg.
• Globally, an ounce of silver is trading below $80, impacting local markets.
• MCX silver March futures dropped by almost 10% on Thursday, trading at ₹2,42,000.
• Silver ETFs also closed with significant losses (13-15%), with leveraged positions like Nippon AMC Silver ETF being heavily affected.
• Despite current volatility, experts predict a significant rise in silver prices over the next five years due to increasing industrial demand from EV batteries, solar panels, and AI data centers.