Silver Rate Today Slips Below ₹2,50,000 as Market Pressure Builds

Market Performance: Silver Prices Under Pressure

Silver rate today continued its downward move, slipping nearly 1% to trade below ₹2,50,000 per kg on MCX during early morning trade on Thursday, January 8. The fall came at a time when global commodity markets turned cautious ahead of annual commodity index rebalancing and the release of key US economic data.

This decline wasn’t sudden. It followed visible selling pressure that has been building over the last few sessions, especially after a sharp rally in precious metals.

At its weakest point during the session, silver touched an intraday low of ₹2,48,163, while the intraday high stood at ₹2,51,889. This compared with the previous close of ₹2,50,605, showing how quickly sentiment turned fragile.

MCX Silver Sees Sharp Intraday Swings

In the previous trading session, silver prices on MCX witnessed a sharp move on the downside.

Key MCX price data:

• Day’s low: ₹2,47,100 per kg
• Intraday fall: nearly ₹11,700 per kg
• Price range: remained wide, reflecting high volatility

Such steep intraday moves suggest that market participants are adjusting positions cautiously as global cues continue to shift.

Main News: Index Rebalancing Weighs on Silver Prices

The pressure on silver rate today can largely be traced to passive selling linked to global commodity index rebalancing.

According to global market observations:

• Passive funds are expected to sell precious metals futures
• Selling is aimed at aligning portfolios with new index weightings
• Volume of selling is higher than usual due to the strong rally earlier in gold and silver

This mechanical selling often creates short-term pressure, regardless of underlying fundamentals.

Overseas Market Snapshot: COMEX Silver Holds Firm

While domestic silver prices slipped, the global picture remained slightly mixed.

In overseas trade:

• COMEX silver was trading marginally higher at $77.780 per ounce
• After Wednesday’s sell-off, prices rebounded briefly
• Intraday high on COMEX: $78.875 per ounce
• Gains: about 1.5% from the session low

This divergence shows that while global silver prices attempted a recovery, local factors and currency moves influenced MCX silver more sharply.

Macro Signals Add to Volatility

The broader precious metals space experienced heightened volatility after fresh US economic data influenced currency movements.

Key developments shaping sentiment:

• US ADP employment data came in stronger than expected
• This led to a rebound in the US dollar index
• A stronger dollar typically puts pressure on gold and silver prices
• However, weaker US JOLTS job openings data helped limit losses at lower levels

These mixed signals resulted in sharp swings rather than a clear directional trend.

Company & Market Context

No company-specific developments impacted silver prices directly. The move in silver rate today was driven primarily by:

• Macro-economic data
• Currency fluctuations
• Global fund rebalancing activity
• Spillover effects from gold price movements

Silver, like gold, continues to respond quickly to global data points rather than domestic factors alone.

Summary: What the Silver Price Movement Tells Us?

To sum it up:

• Silver rate today dropped nearly 1%, slipping below ₹2,50,000 on MCX
• Prices saw a wide intraday range between ₹2,48,163 and ₹2,51,889
• Previous session witnessed a sharp fall of nearly ₹11,700 per kg
• Global index rebalancing triggered higher-than-usual selling
• Overseas markets showed mild stability, but domestic prices stayed under pressure

For now, silver remains caught in a phase of high volatility and cautious positioning, with short-term moves being shaped more by global flows and economic data than by any single trigger.

This is a market reminding participants to stay alert—because when volatility rises, silver rarely moves quietly.

Source: Livemint