Silver Prices in Vijayawada Plummet: Record Decline Shocks Investors

• Silver prices in Vijayawada experienced an unexpectedly sharp decline on Saturday, January 31.
• Within a week, silver prices soared to unprecedented heights before plummeting rapidly, astonishing investors.
• The price of one kilogram of silver dropped by approximately Rs. 55,000 to Rs. 85,000 in a single day, now trading between Rs. 3,20,000 and Rs. 3,50,000.
• The market saw extreme volatility, with prices reaching an all-time high on January 29 only to collapse by January 31.
• Reasons for the fall include a strengthening dollar index, profit booking by investors after a 70% rise, and expectations of reduced import duties in Budget 2026.

Why It Matters: Vijayawada silver market sees record price crash due to global factors and profit booking after a volatile week.