Silver price has broken below ₹2 lakh for the first time since December 2025: Is this the right time to buy for returns? - Livemint

AI desk brief

Silver on MCX broke below ₹2 lakh/kg for the first time since December 2025, dropping to ₹1,92,800 after a single-session fall of about ₹6,800. The metal is down 22.5% from its August 2026 peak, more than 50% from January’s record high, and is on track for a fifth straight weekly loss as higher crude, sticky inflation and expectations of tighter US policy lift yields and the opportunity cost of holding bullion.

Gold also weakened, slipping 0.29% on Friday and hovering near a three-month low around ₹1.40 lakh/10g, with both metals headed for a second consecutive monthly decline. Rajeev Sharan of Brickwork Ratings said higher energy costs and a firmer dollar/bond-yield backdrop are pressuring bullion, while silver is seeing extra drag from weaker industrial demand.

Technically, Augmont’s Renisha Chainani sees further downside risk toward $50 silver, or roughly ₹1.80-1.85 lakh/kg, over the next 10-15 days, with $50-$55 cited as a potential accumulation zone. She put gold support around $3,950-$4,000 and said the broader uptrend would need silver back above $62 and gold above $4,200 to reassert itself.