According to the MCX, silver futures for December 4 delivery were up 0.39% on Oct 26, trading at ₹1.96 lakh per kg— a far cry from the ₹3.79 lakh/kg high hit on Jan 29 and the ₹1.94 lakh/kg level on Oct 23.
Internationally, the metal fell from $117 per ounce on Jan 28 to just above $54 on Oct 23, a decline of more than 53% in under nine months.
The correction mirrors profit‑booking, shifting expectations on US interest rates, a stronger dollar, and rising bond yields. Senior research analyst Nirendra Yadav of Bonanza warned that volatility is likely to linger, urging investors to seek signs of price stabilisation before committing.
Silver‑focused ETFs attracted ₹1.974 crore net inflows in September, up roughly 55% from ₹1.270 crore in August, per AMFI data—yet inflows alone do not guarantee a price rebound.
Going forward, traders will keep an eye on the dollar index, US Fed policy announcements, and global manufacturing PMI releases. A dip in bond yields coupled with stronger industrial demand could support a rebound, but a sluggish economy or continued dollar strength could keep prices under pressure.