MCX silver falls to ₹178,900 per kg, world price down $11.90 in a month

What happened. On Friday, October 30, silver fell 6.06% and traded near $49.015 an ounce in late US trading, according to Kitco. CNBC says it dropped below $50 for the first time since November 2025. The Vietnamese outlet Thế giới tiếp thị gave a price of about $48.94 on November 2, down $11.90 from a month earlier.

What it means in India. AajTak reports silver on MCX at ₹178,900 per kg. It lost ₹10,000 on Friday. The January record on MCX was ₹420,000 per kg, so the price is now ₹242,000 below it. On the bullion market, IBJA lists 999-purity silver at ₹182,000 per kg, down ₹13,000 over the week. The sources we opened do not give a weekly or monthly change for MCX itself.

Why it is falling. Kitco ties the drop to a tech-led stock selloff in the US that added to liquidation across precious metals. Silver lost more than gold because worries about industrial demand weighed on it too. CNBC adds that higher energy prices and persistent inflation strengthened expectations that US rates will stay high. Commerzbank analysts suggest the sharp selloff may have triggered forced selling and margin calls, and call the drop exaggerated.

Physical demand. CNBC says demand in Asia is subdued: Indian buyers are delaying purchases and Chinese demand is muted.

The link to gold. We have already reported that gold hit a one-year low after a hot US inflation reading and a hawkish Fed. Silver is following the same path, only with bigger swings. Live silver data is on https://freekonomist.com/commodities/silver/ and gold is on https://freekonomist.com/commodities/gold/.

Fatos confirmados

• On Friday, October 30, 2026, spot silver fell $3.150, or 6.06%, and traded near $49.015 an ounce.^[1]
• Silver dropped below $50 an ounce for the first time since November 2025.^[2]
• On November 2 the world silver price was quoted at about $48.94 an ounce, $11.90 lower than a month earlier.^[4]
• On MCX, silver trades at ₹178,900 per kg, down ₹10,000 on Friday.^[3]
• The January record on MCX was ₹420,000 per kg, and the current price is ₹242,000 below it.^[3]
• On the bullion market, 999-purity silver listed by IBJA is ₹182,000 per kg, down ₹13,000 over the week.^[3]
• Kitco links the drop to a tech-led stock selloff that added to selling across precious metals, and to concerns about industrial demand.^[1]
• Higher energy prices and persistent inflation strengthened expectations that US rates will stay high.^[2]
• Commerzbank analysts suggest the sharp tech selloff may have triggered forced selling and margin calls, and call the metals drop exaggerated.^[2]
• Physical demand in Asia is subdued: Indian buyers are delaying purchases and Chinese demand is muted.^[2]
• The widening gold-silver ratio reflects silver's greater sensitivity to worsening risk sentiment.^[1]

Implicações

• ConfirmadoThe silver drop is happening alongside a stock selloff and rising expectations of high US rates.
• Nossa leituraSilver reacts to market fear more than gold because part of its demand is industrial. This is our reading.
• Nossa leituraThe weekly and monthly change on MCX will differ noticeably from the world price because of the rupee exchange rate and local conditions. This is our reading.

Ainda não se sabe

• The weekly change in the world silver price in dollars
• The monthly change in MCX silver in rupees
• Whether the stock selloff continues and how that affects metals

Quem é afetado

World, India. People tracking silver on MCX and worldwide, and silver buyers in India

Fontes

1. Kitco: Gold falls below $3,900, silver tumbles as Wall Street selloff triggers liquidation - Kitco PM Report 30 de outubro de 2026 · mídia
2. CNBC: Gold hits one-year low, silver drops below $50 as higher-for-longer rate view firms 29 de outubro de 2026 · mídia
3. AajTak: Silver Coin Rate: एक चांदी का सिक्‍का कितने का? हफ्तेभर में ₹13000 हुई सस्‍ती 1 de novembro de 2026 · mídia
4. Thế giới tiếp thị (VietNamNet): Giá bạc hôm nay 2/11: Bạc giảm gần 12 USD/ounce trong một tháng 2 de novembro de 2026 · mídia