Silver prices go on a rollercoaster, swinging 14% in a day
Silver had a wild Monday, with global prices jumping to almost $84 an ounce before quickly dropping back to around $74.
This big swing was sparked by traders cashing in profits and the Chicago Mercantile Exchange suddenly raising margin requirements by 25%.
In India, silver futures also hit record highs above ₹2.5 lakh per kg before sliding down to ₹2.3 lakh.
What's behind the chaos?
Hopes for a peace deal between Russia and Ukraine, along with thin holiday trading, contributed to the price volatility.
The CME's move forced traders to rethink their bets, while hopes for peace talks pushed prices lower.
On top of that, years of tight supply and strong demand from tech like solar panels and EVs have kept silver hot—Kaynat Chainwala from Kotak Securities points out that US rate cuts helped fuel the recent rally too.