Now Reading: Silver down over 50% from record, Dhanteras buying caution urged
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Silver down over 50% from record, Dhanteras buying caution urged
Silver down over 50% from record, Dhanteras buying caution urged
The Story in Brief
Silver prices are down more than 50% from a January 2026 peak, trading at ₹1.96 lakh per kg on the MCX on October 26, ahead of Dhanteras. The metal touched a high of ₹3.79 lakh per kg on January 29 and fell to ₹1.94 lakh on October 23. Internationally, silver declined 53 to 55% from nearly $117 per ounce in late January to just above $54 on October 23, its lowest since November 2025.
Analysts cited profit-booking, a stronger dollar, rising bond yields, shifting US interest rate expectations, uncertainty over industrial demand, and a broader equity sell-off as investors liquidated precious metals to cover losses in technology stocks. Silver’s industrial applications in solar energy, electronics and artificial intelligence infrastructure support long-term demand, but near-term volatility remains high. Both outlets advise gradual accumulation, not aggressive buying, and urge investors to check their portfolio allocation before purchasing silver ETFs this Dhanteras.
The US midterm elections on November 3 and Federal Reserve rate decisions are expected to influence silver’s direction. A forecast global supply deficit of 46.3 million ounces in 2026 and potential Chinese export restrictions could support prices over the long term.
Indian Opinion Analysis
Both outlets present silver’s correction as an investment event, not a policy story, so the coverage is uniform straight reporting with identical facts: a 50 to 55% drop from peak, Dhanteras timing, and cautious accumulation advice. Mcx futures at ₹1.96 lakh per kg on October 26 and international silver at $54 per ounce are common. CNBC-TV18 leads with the 50% decline and emphasizes ETF inflows (₹1,974 crore in September), fund manager warnings against averaging down, and the iNAV risk. Business Today highlights the 55% crash tied to an equity sell-off, adds the US midterm election date (3 November) as a catalyst, and includes HSBC’s view that tariffs and geopolitical risks are price-supportive. Both cite analysts against aggressive buying. The only tension is near-term direction: CNBC-TV18’s sourced quote that prices may not have bottomed versus Business Today’s sourced view that correction could create trading opportunities, the balanced reading is persistent near-term volatility with no clear floor set.
Coverage: 2 sources, 2 neutral
Sources (2): cnbctv18.com (neutral report), businesstoday.in (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry. Methodology and corrections.
