Silver falls nearly 50% from peak, slips below Rs 2 lakh: What is driving the crash? - The Financial Express

AI desk brief

Silver is under heavy pressure, with MCX December 2026 futures slipping below Rs 2 lakh/kg to Rs 1,96,170 on Friday, down 1.72%, while Indian spot closed at Rs 2,00,853/kg and silver ETFs fell more than 2.5%. Globally, spot silver was around $54/oz and COMEX futures dropped 4.60% to $54.7, the lowest settlement since November 2025, leaving the metal more than 21% lower YTD and about 55% below its January record high.

The article links the selloff to a broader risk-off move in tech/AI stocks, with traders liquidating metals to cover losses, while Brent above $114/bbl is lifting inflation fears and keeping rate-hike expectations alive. A stronger dollar, still-elevated US rates, and moderating industrial activity are adding to silver’s downside; yields have eased, but mainly because investors are buying Treasuries amid the equity selloff rather than on cooler inflation.