New Delhi, Feb. 2 -- MCX Silver rate today crashed 15% on Monday, February 2, following a steep correction over the previous two sessions. The white metal has now fallen more than 46% or Rs.1.94 lakh from its record high of Rs.4,20,000, hit on Thursday (January 30) on firm dollar and as higher CME margins take effect from today.

MCX silver price tanked 15% lower circuit of Rs.2,25,805 per kg.

Silver also sank in the global markets, reversing its record-breaking rally. Silver tumbled as much as 14.6% on Monday, extending loss from Friday's session that was the steepest one ever.

Gold prices also declined on MCX in Monday's session, furthering losses after witnessing their sharpest single-day fall in more than a decade. On

MCX gold pric...