Silver Price Crash: Silver prices fell by ₹11,000, breaking ₹19,000 in two days, these two reasons led to a major slowdown.:Silver prices fell by ₹11,000 on the MCX in early trade on January 8

News Topical, Digital Desk : After a continuous rise, selling pressure is dominating the silver prices (Silver Price Crash). Silver prices fell by Rs 11000 on MCX in the early trade on January 8. Earlier on January 8 also, silver prices had seen a decline of 3 percent. During this period, the price of silver futures fell from Rs 259692 to Rs 246400. In today's trading session, silver prices on MCX fell by Rs 11,000 and reached the day's low of Rs 240,605 per kg. Silver prices also weakened in the international market, but the decline was less severe. Spot silver fell 2.7% to $76.01 per ounce.

Why did the price of silver fall?

On the significant decline in silver prices, commodity market expert, Anuj Gupta said that due to strengthening of dollar, pressure on metal index is increasing, hence all metals including silver are trading under pressure.

Meanwhile, according to a Bloomberg report, passive tracking funds have been selling precious metals futures since Thursday to match the new weightings required by the index. This is usually a routine process, but it has gained importance for gold and silver due to last year's meteoric rise.

Meanwhile, other experts suggest avoiding investing in silver until the price stabilizes, at which point you can invest in it through a SIP (Subsidiary Investment Investment Plan). To invest in silver, choose mutual fund SIPs, not silver ETFs. Mutual fund SIPs are a safer option than silver ETFs.