Mumbai, Oct. 18 – Silver prices on India’s Multi Commodity Exchange (MCX) tumbled hard on Friday, striking a record intraday slump of 16,715 points, or nearly 10% from the session high. The metal fell from a peak of Rs 1,70,415 per kilogram to a low of Rs 1,53,700, then pulled back to close at Rs 1,57,300, up 0.44 % from the previous day.
The sharp dip mirrors a global sell‑off that saw U.S. spot silver slide 6 %, its biggest single‑day drop in six months. Worldwide, silver slid 4.75 % after peaking at $54.63 and settling at $51.86 an ounce. Analysts say the correction was driven by waning safe‑haven demand as market fears eased.
Experts link the pullback to several factors. U.S. credit concerns eased, and President Donald Trump’s comments about China‑U.S. trade tensions helped calm markets. The London silver market also benefited from a liquidity lift, while rising bond yields pushed investors away from non‑yielding assets like precious metals.
Even with the price wobble, industrial demand for silver remains strong. MP Financial Advisory Services notes that while gold continues to hit record highs in India, silver’s role in solar panels, electronics and electric‑vehicle production keeps it likely to stay above $50 per ounce. Over the past three years, silver prices have climbed from roughly $24 an ounce in November 2022 to about $47 in October 2025, driven by those sectors.
In short, silver futures on MCX faced a steep intraday drop amid a global market shakeout, but industrial demand and supportive factors keep the metal on a solid growth path.
Source: ianslive
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