The additional supply is expected to ease domestic shortages and premiums, even as demand remains weak. Silver futures on the Multi Commodity Exchange (MCX) fell 3.5% to ₹1,92,800 per kg on 23 October 2026, down nearly 55% from a record high of around ₹4.2 lakh per kg on 29 January 2026. A year ago, on 23 October 2025, MCX silver futures were trading at about ₹1.48 lakh per kg. The selloff has been driven by a stronger US dollar, elevated bond yields, expectations that US interest rates will remain higher for longer, and concerns about industrial demand.
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