Silver Price Crash: Silver drops to ₹1.85 lakh—down by ₹2.35 lakh in 9 months; experts warn of impending turmoil and cite 5 key reasons..

Silver Price Today: Ahead of Diwali, silver prices are witnessing a sharp decline. Earlier this year, in January, there was a rush among investors to buy silver, with prices climbing to nearly ₹4.2 lakh per kilogram.

Today, that same silver has plummeted to around ₹1.85 lakh. Compared to its all-time high on January 29, 2026, silver has become cheaper by ₹2,35,000. This drastic drop of approximately 56% has left investors concerned.

The question arises: is it wise to buy now, given the lower prices, or will its luster fade even further in the coming days? And, perhaps most importantly, how much lower could silver prices potentially fall?

To explore this, Jagran Business held an exclusive discussion with SEBI-registered market and commodity expert Indra Kamal Tiwari, who broke down the dynamics behind this downturn.

How much has silver fallen on COMEX and MCX?
In the global market, the price of silver has hit a one-year low. On COMEX, silver is trading at $50 per ounce—a notable shift, considering that in November 2025, the price was above $49. Meanwhile, on the Multi Commodity Exchange (MCX), silver has reached its lowest level since December 2025. Today, October 30, the price stands at ₹1,85,450, marking a sharp decline of 2%—a drop of ₹3,881.

Question 1: Could there be an even steeper decline in silver prices?
Indra Kamal Tiwari: It is important to distinguish between a commodity appearing "cheap" and it actually having reached its "bottom." Currently, technical charts show no signs that buyers have returned to the market. Unless silver manages to close above the ₹2,00,000–₹2,05,000 range on a weekly basis, the trend will remain weak and bearish.

Question 2: If silver falls further, how low could it go?
Indra Kamal Tiwari: If the current selling pressure persists, the next major, robust support level for silver in the domestic market (MCX) lies around ₹1,70,000—a breakout zone from October 2025. Beyond that, a long-term moving average sits near the ₹1,46,000 level. In the international market, if the price closes below $53, the next support could be found in the $45–$46 per ounce range.

Question 3: What are the 5 factors that could cause silver to crash further?
Indra Kamal Tiwari: There are primarily 5 reasons for this:

Breakdown of the 'Descending Triangle': The key neckline of the 'descending triangle'—a bearish pattern that formed between March and October—has now been breached.

A sequence of 'lower highs': The peaks in silver’s price rallies have been consistently declining (₹4.2 lakh in January, ₹3.05 lakh in May, and ₹2.45 lakh in September), which signals a downward trend.

Loss of the Fibonacci support level: The 0.786 Fibonacci level (₹1,99,330)—considered the final strong line of defense for the bullish trend—has failed to hold.

Selling on high volume: The trading volume during this decline has reached a multi-week high, clearly indicating that major market participants are liquidating their positions. Pressure from international markets: In the global market, silver is struggling near the $50 mark, while gold has slipped below $4,000—placing significant pressure on the entire bullion market.

Question 4: What should investors keep in mind amidst the decline in silver prices?
Indra Kamal Tiwari: Seeing prices fall, investors often think, "I might not get it this cheap again," and proceed to invest based on that assumption. However, a lower price level on a chart is only meaningful if the price actually sustains at that level. Therefore, rather than acting in haste, it is wiser to wait for confirmation.

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