Silver Crashes 55% From Peak, Check Latest Silver Rate in India on 30 Oct 2026; Should You Buy, Sell or Hold?

Silver rate in India today continued their downward trend on Friday, October 30, extending the recent sell-off in domestic and international markets. Retail silver prices in India fell by Rs 5 per gram, taking the rate to Rs 210 per gram from Rs 215 on the previous day. The price of 1 kg of silver declined by Rs 5,000 to Rs 2,10,000, reflecting continued pressure on the precious metal.

Silver Crashes! Retail & MCX Silver Prices Plunge 55% From Peak

On the Multi Commodity Exchange (MCX), silver futures for December 4, 2026, delivery were trading at Rs 1,87,170 per kg at 10:56 am IST, down Rs 2,283, or 1.21%, from the previous close of Rs 1,89,453. The contract opened at Rs 1,87,777, while the reported trading volume stood at 1,809. The spot price was quoted at Rs 90,951.

Silver Rate Today in India: Check Latest Silver Prices Per kg and Gram on 30 October 2026

Retail silver prices declined across the listed quantities on Friday. The rate for 10 grams fell to Rs 2,100 from Rs 2,150, while 100 grams of silver became cheaper by Rs 500 to Rs 21,000. The price of 8 grams declined by Rs 40 to Rs 1,680.

For buyers planning jewellery purchases or investments in physical silver, the latest decline offers a lower entry price than the previous day. However, continued volatility means buyers should consider their investment horizon rather than base decisions solely on daily price movements.

Why Is Silver Price Falling Continuously?

Silver has faced substantial selling pressure after retreating sharply from its January peak. The metal has reportedly fallen from around Rs 4.2 lakh per kg to approximately Rs 1.96 lakh per kg on MCX at the levels cited in the market commentary, representing a decline of roughly 55%. The latest December futures quote is lower still, at Rs 1,87,170 per kg during Friday's trade.

Several factors influence silver prices, including expectations for US interest rates, movements in the dollar, industrial demand, exchange-traded fund flows and currency fluctuations. In India, the rupee-dollar exchange rate, domestic demand and the cost of importing silver can also influence local prices.

A firm US dollar and expectations of higher interest rates can weigh on precious metals by making dollar-denominated commodities more expensive for holders of other currencies and reducing the appeal of assets that do not generate interest. At the same time, concerns about the direction of global demand and investor positioning can contribute to further selling.

Will Silver Prices Fall Further or Recover? Expert View

Despite the sharp correction, technical indicators suggest that silver may be approaching oversold territory.

Silver has dropped from about Rs 4.2 lakh/kg to roughly Rs 1.96 lakh/kg on MCX, and COMEX silver is near $54/oz. That is a 55% fall from the peak. The daily RSI is about 24, so silver is deeply oversold and a relief bounce is likely. The trend is still down, though: prices sit below the 20-, 50- and 200-day averages.

"Immediate support is Rs 1,92,000, with Rs 1,80,000-1,75,000 ($50-48) below it if selling continues. On the upside, Rs 2,14,000 is the first hurdle, then Rs 2,29,000 ($63). Silver is likely to trade between Rs 1.80 lakh and Rs 2.30 lakh until the US midterms and the Fed's rate path are clearer," said Mr. Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd. and President of the India Bullion and Jewellers Association Ltd.

Should Investors Buy, Sell or Hold Silver Now?

With silver prices falling sharply, investors face the question of whether to buy during the correction or wait for greater stability. Kothari advised existing holders against making panic-driven decisions at deeply oversold levels, while suggesting that new buyers avoid investing their entire planned amount at once.

"Holders shouldn't panic-sell at oversold levels. Selling now would lock in losses close to a likely bottoming zone. For new buyers, Dhanteras is a good time to start buying, but not to go all in," said Mr. Prithviraj Kothari, IBJA President.

He also recommended staggering purchases rather than committing all the money at a single price level.

"Split the money into three or four parts and buy near ₹1.92 lakh, ₹1.85 lakh and ₹1.78 lakh. The fundamentals still support silver: the 2026 supply deficit is estimated at 46.3 million ounces, and demand from solar, EVs and data centres stays strong. Against that, a firm dollar and expected Fed rate hikes could cap rallies for now," he added.

Kothari's suggested buying levels are an expert's market view, not a guarantee that silver will reach those prices or rebound from them. Investors should consider their financial circumstances, risk tolerance and investment horizon before making a decision.

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