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Silver prices retreat sharply as strong dollar dents sentiment
Silver prices dropped sharply from record levels as a stronger dollar, profit booking, and global risk-off sentiment weighed on precious metals.
Silver prices fell nearly 5% from record highs on January 30 as a stronger US dollar and higher bond yields pressured precious metals. Domestic rates slipped to around ₹39,133 per kilogram after recent rallies.Analysts said profit booking intensified amid global risk off sentiment, while expectations of delayed rate cuts reduced safe-haven demand. Investors were advised to track dollar movement, inflation data, and global cues closely.