Silver crashed 16.6% in the Asian markets on Thursday, erasing the gains the precious metal made in the past two sessions, Bloomberg reported. It sank to $76.9495/ounce (₹2.45 lakhs/kg) as of 11.18 am in Singapore. In India, silver futures with March expiry fell 9% to ₹2,44,654/kg, according to MCX data. Meanwhile, spot gold dropped by 3.5%.