Silver prices were seeing wild swings in trade. On MCX, Silver March Futures hovered near the Rs 2.33 lakh/kg levels. Internationally too, silver spot prices plunged almost 40% from its January 29 record highs.
In late January, silver prices rose to their record high levels, trading near the $120/oz mark. Analysts noted that the price hike was mainly driven by high investment demand, along with a soft US Dollar and high expectations of rate cuts by the US Federal Reserve.
But a lot changed in just over a week.
What is weighing on silver prices?
One of the major reasons behind the sharp fall in precious metal prices is the rebound in the US Dollar, which has strengthened since the nomination of Kevin Warsh as the next Chair of the Federal Reserve. Warsh is widely known for his hawkish stance and his preference for tighter monetary policy.
Easing geopolitical uncertainties is also seen as another key factor. US and Iran are scheduled to hold talks. Along with this, US President Donald Trump described his phone call with Chinese President Xi Jinping as excellent, which weighed on the safe-haven appeal of the asset.
Additionally, the CME Group (which manages COMEX) has raised margins on 5000 Silver Futures to 18% from the earlier 15%, which is adding pressure to silver prices.
Additionally, a price hike by the CME Group on futures contracts is also adding pressure to silver prices.
Silver price outlook: What analysts expect next
Despite the recent volatility, analysts have noted that the massive pullback in prices occurred due to technical corrections.
Analysts have said that the recent fall has no underlying strong fundamental reason. UBS forecasts silver prices near the $105/oz mark in the short term by March 2026.
Silver Rate Today in India Live Updates: Vijay Kedia warns silver rally driven by speculation, sees technical correction ahead
Indian market veteran Vijay Kedia, in a video shared on X, said that speculative punters are largely driving the silver market. He recalled that during the Hunt brothers’ era in 1985, silver surged past $50 per ounce before crashing sharply to around $6. A similar pattern played out in 2011, he noted, and again in 2025 when silver crossed the $50 mark on the back of a successful gamble. According to Kedia, with the metal having peaked, the rally has broken and prices are now heading into a technical correction.
Silver Rate Today in India Live Updates: Peter Schiff on Silver's downfall
American economist Peter Schiff pointed out that the steep decline in cryptocurrencies added to the downfall for silver. He urged investors to opt for physical silver and buy it while the bars and coins are still available. He emphasised that the physical supply of silver remains limited in comparison to its demand.
Silver Rate Today in India Live Updates: Silver retreat follows speculative surge and stronger dollar
Silver prices, which had surged to record highs in January on geopolitical tensions, economic uncertainty, and heavy speculative buying—particularly from China—came under pressure as sentiment reversed. A strengthening dollar after Kevin Warsh’s Fed nomination triggered a rapid unwinding of leveraged positions, overwhelming silver’s underlying supply-demand fundamentals.
Silver Rate Today in India Live Updates: Gold, silver extend losses on MCX amid weak global cues
Gold and silver prices extended their decline on the MCX, opening sharply lower amid weak global signals and a stronger US dollar. The firmer greenback reduced bullion’s appeal for overseas buyers, keeping domestic sentiment subdued. This marks the second straight session of losses, erasing much of the gains seen during the brief midweek rebound.
Silver Rate Today in India Live Updates: Kotak Securities on silver prices
” Today, metals rebounded sharply from lows hit earlier in the session, with silver jumping over 15% from its intraday low of $63.99, currently trading above $74/oz. However, caution remains amid extreme volatility and fears of a prolonged tech sell-off, ” Kaynat Chainwala, AVP Commodity Research, Kotak Securities said.
Silver Rate Today in India Live Updates: Gold and silver price update
Gold prices in India closed at Rs 153,700 per 10 grams, supported by sustained long-term momentum that has delivered an over 80% gain year-on-year. Meanwhile, silver prices at Rs 2,42,270 per kg.
Silver Rate Today in India Live Updates: MCX Silver futures trading in green
On MCX, the March delivery contract of silver was trading in green, up 0.24% at Rs 1,52,822 per kg as of 04:27 pm (IST).
The contract had opened at Rs 1,49,396.00 per kg, and touched an intraday low of Rs 1,49,396 per kg.
Silver Rate Today in India Live Updates: Vijay Kedia says punters driving the markets
Indian bull Vijay Kedia, in a video posted on X, remarked that punters are essentially driving the silver market. He added that in 1985, during the time of the Hunt brothers, silver crossed the $50/oz mark, which was followed by a very sharp decline to the $6/oz mark.
In his remarks, he added that a similar scenario occurred in 2011, and the white metal also crossed the $50/oz mark in 2025 owing to a successful gamble. He noted that since the shining metal reached its peak, the rally was broken, and now the prices are on their way towards a technical correction.
https://twitter.com/VijayKedia1/status/2019435669928735121?s=20
Silver Rate Today in India Live Updates: Silver prices across different cities
Silver is trading at different prices across various cities of India
In Chennai 10 grams silver is priced at Rs 2,379
While in Mumbai 10 grams silver is slightly lower at Rs 2,372
In Delhi silver is priced at Rs 2,368 per 10 grams
For Kolkata silver price stands at Rs 2,369 per 10 grams
Silver Rate Today in India Live Updates: Silver stages slight recovery over tensions between US-Iran
In international markets, spot silver is bouncing as the white metal is trading near the $74/oz mark. While on MCX, the March-delivery contract of silver also rose marginally by 0.54% trading at Rs 1,52,890
per kg.
The recovery is being attribued to increasing tensions between US and Iran as negotiations between both the countries has the markets on edge. Reports related to disagreements between both the countries over key agendas has added to the safe-haven appeal of the asset.
Silver Rate Today in India Live Updates: Silver ETFs down as price fluctuates
Price fluctuations in silver are weighing on Silver ETFs as well. Edelweiss Silver ETF is down nearly 7% to Rs 235.54. SBI Silver ETF has declined by nearly 6% to Rs 229.563, while Aditya Birla Sun Life Silver ETF also declined by 6% to Rs 233.98. Kotak Silver ETF was down nearly 6% at Rs 226.72, and HDFC Silver ETF also dropped by nearly 6% to Rs 224.19
Viewers are advised to check the official website of NSE for details pertaining to the intraday highs and lows of these ETFs
In international markets spot silver is trading near the $72/oz levels, up nearly 2% on day.
" Today, metals rebounded sharply from lows hit earlier in the session, with silver jumping over 15% from its intraday low of $63.99, currently trading above $74/oz. However, caution remains amid extreme volatility and fears of a prolonged tech sell-off, " Kaynat Chainwala, AVP Commodity Research, Kotak Securities said.
Silver Rate Today in India Live Updates: MCX Silver down 3%
On MCX, the March delivery contract of Silver was trading at Rs 2,36,577 per kg, down 2.92% as of 01:16 PM (IST).
The contract had opened at Rs 2,34,063 per kg and hit an intra-day low of Rs 2,29,187 per kg. The contract's intraday high stood at Rs 2,43,277 per kg.
Silver Rate Today in India Live Updates: Porinju Veliyath says stay cautious on silver
Market Veteran, Porinju Veliyath has adivsed investors to stay cautious on vague and speculative assets like gold, silver, bitcoin etc.
In a social media post on X, he said that these assets do not have fundamental values but are rather driven by market sentiment.
Silver Rate Today in India Live Updates: Spot silver steady at $73/oz
In the international markets, spot silver saw a slight recovery as the white metal is trading near the $73/oz levels in the intraday trade.
This marks a bounce of nearly 14% for silver which had tumbled down to $64/oz mark in early Asian trade.
Silver Rate Today in India Live Updates: MCX Silver down 3%
As of 12:13 pm IST, the March delivery contract of silver was down 2.65% on MCX, trading at Rs 2,37,350 per kg.
Silver Rate Today in India Live Updates: Analyst says broader uptrend for silver supportive
"MCX Gold futures are trading near the ₹1,49,000–₹1,55,000 zone following a sharp correction from record highs near ₹1,80,000–₹1,81,000. Despite near-term volatility, the broader uptrend structure remains supportive, with prices holding above key long-term supports." Ponmudi R, CEO of Enrich Money said.
He added that strong demand is seen in the ₹1,37,000–₹1,42,000 zone. A sustained base above this area, followed by a breakout above ₹1,55,000–₹1,60,000, could revive upside momentum toward ₹1,65,000–₹1,75,000, keeping the medium-term outlook positive.
Silver Rate Today in India Live Updates: MCX Silver down 2%
In the domestic prices silver futures on MCX bounced back a bit as the March delivery contract of Silver was trading at Rs 2,39,134 per kg as of 11:23 pm, down 1.92%.
The contract had opened at Rs 2,34,063 per kg and hit a low of Rs 2,29,187 per kg.
Viewers are advised to check the official website of MCX for details pertaining to contract delivery, expiration etc.
Silver Rate Today in India Live Updates: Silver prices may go down to $62 says Kotak's Anindya Banerjee
"Over the next week, financial conditions will be the key driver. If risk sentiment improves, silver could rebound toward $80, while further deterioration could push prices toward $62," Anindya Banerjee, Head of Commodity and Currency Research, Kotak Securities said providing an outlook for silver prices.
He added that over the longer-term outlook over the next three to four year the outlook for silver remain constructive, supported by rising industrial demand and ongoing currency debasement, with the current phase likely an undershoot after January’s FOMO-driven overshoot.
"Fair value for silver is seen in the $70–$80 zone, with that range expected to trend higher over time." Banerjee said.
Silver Rate Today in India Live Updates: MCX Silver down 4%
As of 10:29 am (IST), most-active contract March contract of Silver was trading at Rs 2,33,204 per kg. down 4.35%
Silver Rate Today in India Live Updates: Silver ETFs fall as much as 7%
Silver ETFs rattled once again after Silver in the international markets dropped to trade around $69 per ounce. Edelweiss Silver ETF dropped the most among Indian white metal ETFs, falling 7% as soon as markets opened to trade. Aditya Birla Silver ETF, UTI Silver ETF, HDFC Silver ETF, SBI Silver ETF, and many others followed suit.
Silver Rate Today in India Live Updates: Silver rate in India
In India, the silver rate fell by roughly 9% to Rs 2,46,870 per 10 kilograms. On COMEX, Silver prices tumbled as much as 8.86% toward $69.50 an ounce, ending a short-lived recovery as selling pressure returned to precious metals. Expectations that bargain hunters might stabilise prices faded after the rebound failed to gain traction. The decline was driven largely by a firmer US dollar, supported by signals from the Federal Reserve that interest rate cuts may come more slowly than markets once hoped.
As of 09:17 am (IST), the March delivery contract of Silver was down 3.76% on MCX trading at Rs 2,34,652 per kg.
Silver Rate Today in India Live Updates: Kotak Securities says worst of leveraged liquidation done
"Over the past 48 hours, sharp sell-offs in cryptocurrencies, AI-theme stocks, and global technology equities, along with weak U.S. jobs and housing data and rising long-term bond yields, have weighed on sentiment," Anindya Banerjee, Head of Commodity and Currency Research, Kotak Securities.
He added that most of the leveraged long liquidation in silver appears to be behind us, and we are now seeing fresh short build-up in derivatives, even as physical demand remains firm with continued outflows from COMEX and Shanghai warehouses.
Silver Rate Today in India Live Updates: MCX silver down 1%
As of 09:10 am (IST), the April delivery contract of silver on MCX was down 1.2% trading at Rs 1,50,241 per kg.
Wall Street Strategist, Jim Bianco has pointed that silver is down from 21% in the last 24 hours, from its last Friday's crash low.
In a social media post on X , he said that silver markets have been one of the most leveraged and chaotic in the last couple of months. Owing to this the precious metal is witnessing the turmoil.
https://twitter.com/biancoresearch/status/2019533822727999744?s=20
Silver Rate Today in India Live Updates: Ole Hansen says volatility feeds on itself as liquidity dries up.
Explaining the price movement in silver, Ole Hansen, head of commodity strategy at Saxo Bank AS, in a Bloomberg report said,
“When volatility rises, market makers naturally widen spreads and reduce balance-sheet usage, leaving liquidity weakest precisely when it is needed most,”
Until a degree of order returns, “volatility risks feeding on itself,” he said.
Silver Rate Today in India Live Updates: Silver marks one of most volatile performance since 1980s
The recent moves in silver prices marks one of its most volatile performance since 1980s. Spot silver has shed nearly 40% of its gains from its record high levels of $120/oz that it hit on January 29.
Market experts noted that silver has always been more volatile than gold due to its relatively smaller market size and relative lack of liquidity.
For Union Budget 2026, markets were expecting a potential cut in custom duties of gold and silver. However, FM Nirmala Sitharaman kept the duties unchanged.
Currently, silver bars and coins are taxed at 6% for eligible Indian residents, while others pay a significantly higher tax of 36%.
The government had earlier reduced the customs duty on gold from 15% to 6%, effective from July 24, 2024.
Read More: Gold, Silver Crash Today Explained: Three factors impacting prices turn around
Silver Rate Today in India Live Updates: Chinese fund halts silver futures trade
According to a Reuters report, China's UBS SDIC Silver Futures fund has temporarily halted trading after a massive decline in global silver prices.
The Shenzhen-listed fund declined by its 10% limit for four consecutive days as the prices of silver extended losses.
The fund would suspend trading at market open and will resume trading by 10:30 am (Chinese standard time)
This marks an important developments as China is one of the largest consumers of silver.