Silver At 11-Month Low: What's Behind The Precious Metal's Dramatic Reversal? - Outlook Business

AI desk brief

Silver has reversed sharply, falling more than 53% from its January 28 record high near $117/oz to just above $53/oz by Oct. 27 as dollar strength, higher yields and expectations of tighter US policy pressure bullion. Analysts say $50 is the key support level, with the next leg likely driven by crude prices and Fed signals.

The decline has also been visible in India: MCX silver peaked at ₹3,79,983/kg on Jan. 29 and dropped to ₹1,94,170 on Oct. 23, after an earlier low of ₹2,04,383 on Mar. 23. Dec. 4 silver futures were quoted at ₹1,95,500/kg on Oct. 26 at 9:48 am IST.