Silver rate today, Dec. 30 -- After witnessing a record rally, the white metal took a U-turn, falling over 8% or Rs.21,000 per kg, after reaching a peak of Rs.254,174 per kg, on Monday, December 29.

Silver rates witnessed a bloodbath after a non-stop rally as investors rushed to book profits. On MCX, Silver March futures settled at Rs.2,25,954 per kg, closed 5.7% lower from the record levels.

Silver's rally in India mirrored the sharp upswing in global markets. Prices of the white metal crossed the $80 mark earlier today for the first time, but later eased as traders locked in profits after a steep surge of more than 180%.

Sugandha Sachdeva, Founder of SS WealthStreet, believes that the recent surge in silver prices marks a structural ...