Gold and Silver Prices Crash: Silver Plummets by 25,000, Gold Also Falls Sharply

• Gold and silver prices, which had reached record highs, experienced a sudden and significant fall.
• Silver prices plummeted by 24,000 to 25,000 rupees per kilogram on MCX, dropping from 407,000 to 375,900 rupees.
• Gold's February futures price also fell by over 6%, more than 10,000 rupees, to 159,250 rupees per 10 grams.
• The crash is attributed to profit booking by large investors and a stronger US dollar in the international market.
• The decline brings relief to customers planning purchases during the wedding season.

Why It Matters: Record-high gold and silver prices crashed due to profit booking and a strong dollar, offering relief to buyers.