New Delhi, Feb. 11 -- Silver prices are currently moving in a narrow range after witnessing a sharp correction from the peak hit towards the end of January. The strong rally in the white metal that began last year came to an abrupt halt as investors resorted to profit-booking, citing overstretched valuations following the steep run-up.

Silver prices in the domestic spot market had surged 168% last year, driven by a supply squeeze, rising industrial demand from sectors such as solar and electronics, and sensitivity to a weaker US dollar.

The rally spilt over into this year, with MCX silver prices climbing past the Rs.4,20,000 mark. However, the upmove proved short-lived. The turning point came after Donald Trump nominated inflation hawk ...