Will the price of 1 kg of silver reach the level of 10 grams of gold? It has fallen by 57%!

The decline in the prices of gold and silver is narrowing the gap between the two. On the Multi Commodity Exchange (MCX), silver has reached ₹1,78,900 per kg, while gold is at ₹1,38,419 per 10 grams.

The gold and silver market has been witnessing significant volatility for some time now. Until recently, silver prices were surging, and investors were anticipating good returns. However, the market trend has shifted, and prices are now consistently on the decline.

The situation has reached a point where the price gap between one kilogram of silver and 10 grams of gold is shrinking rapidly. This raises the question: could the price of one kilogram of silver eventually equal the price of 10 grams of gold?

What is the current price gap between gold and silver?

On Friday, the futures price of silver on the Multi Commodity Exchange (MCX) fell by ₹10,500 to reach ₹1,78,900 per kg. Meanwhile, the futures price of gold dropped by ₹4,347 to stand at ₹1,38,419 per 10 grams. Consequently, the price difference between the two now stands at approximately ₹40,500.

In other words, for the price of silver to reach the current price of gold, it would need to decline by another 22.6%. However, this would only be possible if the price of gold remains stable.

How far has silver fallen from its record high?

In January 2026, the price of silver on the MCX reached a record high of ₹4,20,048 per kg. Based on Friday’s prices, it has now fallen by approximately 57% from that peak. Meanwhile, the price of gold has also fallen by approximately 23% from the record high of Rs 1,80,779 per 10 grams reached in January.

Silver prices have also seen a significant decline in the international market. On Friday, spot silver dropped by nearly 6% to $49 per ounce, while gold was trading at around $3,875 per ounce.

Why have silver prices fallen?

Several reasons are being cited for the decline in silver prices. Selling of tech stocks in the US stock market, high crude oil prices, and concerns over rising interest rates in the US have exerted pressure on both gold and silver. Silver has suffered a sharper decline, partly because a large portion of its demand stems from industrial use; consequently, its price is more significantly impacted when there are growing concerns about a slowdown in economic growth.