Silver prices experienced a significant drop of over 5% on the MCX, falling from a record high of ₹2,54,174 per kg to ₹2,25,954 per kg on Monday, December 29. This sharp reversal followed a strong year-to-date gain of 181%, outperforming gold. Analysts attribute the volatility to silver's thinner market liquidity compared to gold, allowing smaller buy or sell pressures to cause rapid price swings. The white metal's market capitalization has also surpassed that of Nvidia.