Silver Rates Plunge Over Rs 1,200 Following New Import Restrictions

Silver prices witnessed a sharp decline of more than Rs 1,200 per kilogram today. This drop follows the Indian government's announcement of stricter import norms, restricting silver imports to specific agencies and authorized jewellers. The combination of these regulatory changes and rising crude oil prices has created a bearish sentiment in the bullion market, causing significant intraday losses on the MCX for July delivery.