Silver Tumbles 6%, Gold Drops After Historic Surge | Bullion Market Peaked?

0 January 30, 2026 07:45

Silver prices witnessed a sharp selloff, plunging 6% after hitting record highs, while gold also retreated following a historic January rally. On MCX, silver dropped nearly ₹44,000 from its peak, while global spot prices slipped amid a firmer US dollar. The pullback comes after the US Federal Reserve kept interest rates unchanged, supporting the dollar and triggering profit booking in bullion. Despite the correction, analysts remain constructive on gold and silver, citing elevated geopolitical risks, cross-asset volatility, and safe-haven demand. Experts outline key support levels and next price targets for both precious metals.

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