Silver collapses 19 pc to Rs 3.12 lakh per kg

NEW DELHI: Silver prices collapsed 19 per cent to Rs 3.12 lakh per kg in the national capital, while gold plunged 2 per cent to Rs 1.65 lakh per 10 grams, as investors booked profits amid a global selloff triggered by a stronger US dollar.

According to the All India Sarafa Association, silver nosedived Rs 72,500, or 18.85 per cent, to Rs 3,12,000 per kilogram (inclusive of all taxes), marking a second straight day of heavy losses, wiping out much of this week’s record gains.

The white metal had touched a record of Rs 4,04,500 per kg on Thursday before plummeting 5 per cent in the previous session.