Silver futures eased below the $108 per ounce level, declining over 4% as month-end and pre-weekend profit-taking emerged in the aftermath of January's blistering 50% rally. The pullback reflects tactical position trimming following an overheated advance, rather than a breakdown in the underlying narrative. Structural tailwinds ' including persistent geopolitical uncertainty, expectations of lower global interest rates, constrained supply dynamics, and surging industrial consumption ' continue to anchor silver's medium-term outlook. In the domestic market, MCX benchmark silver futures plunged by more than ₹20,000 to trade near ₹3,80,649 per kg, underscoring heightened volatility after an exceptional run-up.
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