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Silver price tumbles ~6% in a week after record highs; supply-stress fades
Indian silver prices dropped ~6% in a week after record highs, as profit-taking and easing supply stress hit the white-metal market.
India’s silver futures and spot prices have fallen about 6 % over the past week after touching record highs above ₹1.70 lakh per kg earlier this month. The fall comes amid easing of the earlier supply-shortage premium and profit-taking in the white-metal market. Analysts say the correction may be short-lived, but recommend caution as the underlying demand from festivals, jewellery and investment remains strong. They note that renewed stress in global silver supply or industrial demand could reignite the rally.