New Delhi, Dec. 29 -- After silver soared past Rs.2,50,000 on the Multi Commodity Exchange (MCX) for the first time on Monday, December 29, the white metal has cooled off, dropping by over 5% during the evening trade.

According to data available on MCX, Silver March futures fell 5.7% to settle at Rs.2,25,954 per kg at around 8:00 pm on Monday, which is a steep fall from an earlier record high of Rs.254,174 per kg in the morning session.

The selling pressure shows no signs of easing, with silver price continuing to slide sharply on MCX as the session progresses, extending losses after the sharp reversal from record highs.

Silver's rally in India comes alongside a surge seen in international markets. The price of silver crossed $80 mark ...