Silver Price Crashes in Hyderabad: ₹85,000 Drop in a Single Day

• Silver prices in Hyderabad witnessed a massive collapse, dropping by ₹85,000 per kilogram on January 31st.
• A kilogram of silver is now trading between ₹3,20,000 and ₹3,50,000, down from approximately ₹4,05,000 yesterday.
• The week saw extreme volatility, with prices peaking at ₹4.25 lakh on January 29th before plummeting.
• Silver futures on MCX closed at ₹2,91,925, a nearly 27% fall from its previous high, impacted by a 30% drop in international spot prices.
• Reasons for the fall include a stronger dollar index, profit booking by investors after a 70% rise, and anticipation of reduced import duty in the Union Budget 2026.

Why It Matters: Hyderabad silver prices crashed by ₹85,000/kg on Jan 31st due to global factors and profit booking.