Silver Slump: Silver prices continued to trade volatile and extended its losses on Thursday, Jan. 8, 2026 as investors braced for futures selling tied to a commodity index reshuffle, with a stronger US dollar adding pressure by making the metal costlier for overseas buyers.
Traders in global and domestic markets took to profit-booking. Meanwhile, the US dollar hovered near a one-month high as investors assessed mixed economic data ahead of Friday’s nonfarm payrolls report.
Silver Slump: White Metal Loses Rs 10,000 Intraday
The white metal plunging Rs 10,000 during the intraday session. After closing at Rs 2,50,605 per kg on Wednesday, March 2026, silver futures on the MCX dropped sharply to an intraday low of Rs 2,40,605.
Silver Price Outlook
According to a fresh outlook from HSBC Global Research, the metal is likely to remain buoyant through the first half of 2026 before facing a meaningful correction in the latter part of the year as supply responses kick in and demand cools. HSBC expects silver prices to stay elevated in the near term, supported by lingering tightness in physical markets, strong investment flows and gold’s continued strength.
The bank notes that silver surged to a record $83.60 per ounce in December 2025, driven by acute shortages of deliverable metal, sharp backwardation in futures markets and heavy ETF inflows. These conditions, it says, are unlikely to ease quickly, keeping volatility high and prices supported through H1.
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