Why did silver prices fall after hitting record high today?

Silver prices on MCX fell to ₹2.2 lakh per kg on Monday after crossing ₹2.5 lakh for the first time earlier in the day. According to reports, the dip was possibly driven by traders booking profits ahead of year-end. "Tentative optimism from US administration regarding progress in the Ukraine peace talks also represents a mild headwind," analyst Ricardo Evangelista said.