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Silver prices tumble 17% in 10 days: What's happening?
Business
Silver prices have tumbled 17% in the last 10 days, dropping from ₹1.78 lakh to ₹1.47 lakh per kg.
The main reason? A surge of silver supply hitting London (the world's top trading hub), which pushed investors to lock in their profits.
Globally too, silver slid from $54.47 to $48.5 per troy ounce over the past week.
Gold also fell sharply; experts still recommend investing
It's not just silver—gold prices slipped 6.4% over the past week, thanks to short-term selling and a strong US dollar.
Still, experts like Vikram Dhawan from Nippon India Mutual Fund say both metals remain smart picks for long-term investors because they help balance out portfolios.
Experts also note that silver could see more demand as industries like solar energy and electric vehicles keep growing.