Stories
Silver prices falling at twice the speed of gold, check market trends
- •Silver prices are experiencing a sharp decline at more than twice the speed of gold on the Multi Commodity Exchange.
- •While gold is viewed as a safe-haven asset, silver demand heavily depends on industrial sectors like electronics and solar panels.
- •Market participants are closely monitoring upcoming US inflation data and Federal Reserve interest rate decisions.
- •Technical reports suggest further downside risks, with silver potentially sliding if it breaches key support levels.
- •Experts estimate that MCX gold futures could trade between Rs 1,47,000 and Rs 1,55,000 per 10 grams leading up to Diwali.
Key Questions Answered
According to Nuvama's commodity experts, MCX gold futures may remain between Rs 1,47,000 and Rs 1,55,000 per 10 grams until Diwali 2026. Additionally, Axis Securities estimates target price ranges of Rs 1.53 lakh to Rs 1.55 lakh for gold and Rs 2.26 lakh to Rs 2.30 lakh per kg for silver.
Silver is facing double pressure because investors are booking profits during economic uncertainty while industrial demand from factories, electronics, and solar panels faces slowing risks. In contrast, gold is frequently bought as a safe investment during uncertain times, causing silver to drop at twice the speed of gold.
According to ICICI Direct's commodity report, MCX Gold December has a support level at Rs 1,48,500 and resistance at Rs 1,52,000. Silver is given a range of Rs 2,18,000 to Rs 2,26,000, and if it sustains below Rs 2,18,000, it could fall up to Rs 2,15,000.
