Silver Price Drop: Silver has taken a sharp tumble from its recent high. The metal has fallen by almost 45% in about three months, which means it has dropped by more than Rs 1,87,000 for each kilogram. The article says silver futures on MCX hit a record Rs 4,39,33 on January 29 and later closed at Rs 4,24,316 per kg.
By April 28 at 16:02 IST, the price was near Rs 2,37,000, with the market still very jumpy. The report says this big swing came after global worries like conflict, rate uncertainty, and tariff tension pushed prices up earlier.
The fall has not been smooth at all. The price kept moving up and down like a restless boat. The same report says that before the Iran conflict on February 27, silver stood at Rs 2,78,481, which was still much higher than the late-April level. In April alone, the 3-month futures contract slid to Rs 2,31,348 on April 7, then climbed to Rs 2,57,142 on April 17. That is a gap of more than Rs 25,000 in just 10 days.
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Experts say silver is not in a clean uptrend right now. It is moving through a messy correction phase, which means the price is adjusting after a huge rise. The article links the latest weakness to the West Asia conflict, which has upset oil markets and global risk mood, along with a stronger dollar that makes silver harder to push higher. The domestic spot silver price on MCX was Rs 2,37,523 per kilogram on Tuesday at 18:28 IST.
Ruchit Thakur, Market Analyst at VT Markets, said, “When geopolitical tensions rise, silver surges and investors race to safe assets. Silver typically jumps swiftly. For instance, amid current Middle East tensions, silver climbed above $96+ levels after taking support around the $64-$66 per ounce zone,”.
He also said, “When tensions across the world ease, the market resets, stabilisation takes place, and interest rates come back into focus. Smart money starts to accumulate when industrial demand, such as that for solar, electric vehicles, and electronics, stops dropping and starts to build a base,”.
Is it a Good time to buy Silver?
The article says silver can become interesting for buyers, but only when they understand the risk. It can be bought in different ways. People can buy physical silver like coins, bars, or jewellery. They can also use silver ETFs. Some investors use apps for small metal investments stored in vaults.
More active traders can use MCX silver futures, but that is risky because futures lock in a trade price for a future date. Spot silver, on the other hand, is the live rate for immediate buying and selling.
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Thakur said, “It can be an excellent place to start if you are aware of the risk. Silver is currently in a chaotic correction phase rather than a definite uptrend. Prices have dropped significantly after a massive rise in silver. According to the chart, silver may technically be valued at least $85 to $100 per ounce in 2026. Fundamentally, silver’s story is still bullish for the long term, and estimates even go much higher.”
The Augmont Bullion report dated April 28 said silver was close to breaking $73 per ounce, or about Rs 2,35,000 per kg. If that level fails, the next target is $70, or around Rs 2,25,000.
Thakur also said, “High interest rates and a strong dollar may cause it to decline, so in summary, it can drop more before rising once again. The $64–$67 range seems to be a reasonable demand zone based on the chart. The price may start to increase after the demand zone has been tested,”.
