Silver Rate Today Falls Rs 4,000/kg On MCX As US Dollar Gains; Is It A Buying Opportunity? | Savings and Investments News

Last Updated:January 16, 2026, 10:23 IST

Silver rate today fell nearly 2%, or about Rs 4,000 per kg, on the Multi Commodity Exchange (MCX) on Friday; Should you invest?

Silver Price Today

Silver Price Falls Today: Silver rate today fell nearly 2 per cent, or about Rs 4,000 per kg, on the Multi Commodity Exchange (MCX) during early trade on Friday, January 16, amid selling pressure and weak global cues.

MCX silver prices opened with a downside gap at Rs 2,87,127 per kg and quickly slipped to an intraday low of Rs 2,85,513 per kg. On Thursday, the metal had touched a fresh record high of Rs 2,92,960 per kg.

In the international market, spot silver declined 0.8 per cent to $91.6861 per ounce after hitting a record high of $93.57 earlier in the session.

The fall in silver prices followed a sharp rise in the US dollar, which climbed to a six-week high after jobless claims data came in lower than expected. The dollar index gained 0.24 per cent to 99.31 and briefly touched 99.49, its strongest level since December 2.

“The major reason for the fall in gold and silver rates today is the US dollar gaining strength against major global currencies. This became possible due to strong US unemployment data. The easing of US-Iran tensions after Donald Trump’s changed stance on Iran has also reduced safe-haven demand for gold and silver,” said Anuj Gupta, a SEBI-registered commodity expert.

Silver price outlook

Jigar Trivedi, Senior Research Analyst at Reliance Securities, said MCX silver prices for the March contract are likely to remain under pressure during the day’s session and could slip towards Rs 2,86,000 per kg.

Rahul Kalantri, Vice President – Commodities at Mehta Equities, said silver has support at $86.10 and $84.75, while resistance is seen at $92.15 and $94.40. In rupee terms, support lies at Rs 2,88,810 and Rs 2,84,170, while resistance is placed at Rs 2,94,810 and Rs 2,96,470.

Ponmudi R, CEO of Enrich Money, said, “The price action reflects aggressive absorption on dips, positioning silver as a high-beta outperformer within the precious metals space. Sustained strength above Rs 2,90,000 keeps the upside trajectory intact. A clear breakout beyond Rs 2,92,000 could pave the way towards Rs 3,00,000 and higher levels. On the downside, any corrective move below Rs 2,85,000 may test the Rs 2,80,000 zone, where fresh buying interest is expected to emerge.”

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