Silver rate today Live: Silver prices faced a sharp downfall on Thursday, January 8, extending the selloff seen in the previous trading session.
Silver prices on MCX plunged as much as ₹11,000 to hit the day’s low of ₹240,605 per kilogram. In the international markets, too, the silver prices weakened, but the quantum of the fall was not as sharp. Spot silver lost 2.7% to $76.01 per ounce.
As per a Bloomberg report, passive tracking funds are selling precious metals futures from Thursday to match new weightings required by the indexes – a usually routine process that has taken on extra significance for gold and silver due to last year’s massive rallies.
Silver price today: Outlook for white metal
Meanwhile, a report by HSBC indicates that silver prices would trade between $58 and $88 in 2026, driven by tight physical supply, robust investment demand, and high gold prices, but warns of a market correction later in the year.
“The COMEX silver price is facing a minor hurdle at $79 and a crucial hurdle at $82 per ounce levels. Upon breaking above $79 decisively, the white metal may soon reach the $82 level. However, a bullish or a bearish trend can be assumed only when the white silver breaks above $82 per ounce levels on a closing basis. Once this happens, we can expect the precious bullion to touch $90 per ounce levels soon,” said Anuj Gupta, Director at Ya Wealth.
“On the lower side, the COMEX silver price has immediate support placed at $75 per ounce levels. On breaking below this support, the white metal has crucial support placed at $72. If the precious bullion dips below $72 support, then the white metal may try to touch $68 to $67 levels,” said Anuj Gupta of Ya Wealth.
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