New Delhi, Oct. 27 -- Silver prices continued their downward trend on Monday, October 27, as increasing optimism regarding a possible US-China trade agreement and a robust dollar put pressure on the safe-haven commodity. Silver futures experienced significant losses on the MCX, dropping over 16% from its all-time high of Rs.170,415. MCX Silver December contracts were down 0.83% at Rs.146,241 per kg as of 13:57 IST.

Analysts suggest that the possible trade agreement between the US and China was unexpected and has positively impacted the markets as a whole. However, the downside to this is that these developments have adversely affected precious metals.

Experts anticipate that silver prices may experience a short-term correction because o...