Nataly Kambur
⬤ Silver in India had a rough weekend. After already sliding on Friday, MCX silver futures dropped another 9% on Sunday. The daily chart paints a pretty clear picture — prices were surging for weeks, and then the momentum flipped overnight. What looked like a strong uptrend suddenly turned into a one-way slide down.
⬤ Here's the thing — MCX silver has now fallen roughly 37% from its peak. Prices had pushed above the 50,000 level before the reversal kicked in. The candles tell the story well: big red bodies, barely any upper wicks. This isn't a slow bleed — it's heavy selling pressure, and it moved fast enough to wipe out a big chunk of the prior rally.
Sharp declines of this magnitude can shift overall market sentiment pretty quickly — and that's exactly what we're seeing right now.
⬤ The whole correction played out in just a handful of sessions — no real consolidation, no bounce attempts. Silver moved from its top to a 37% drop with barely a pause. That kind of speed usually means the earlier rally had stretched things too far, and once sellers stepped in, there was nothing to slow them down.
⬤ Why does this matter beyond India? Silver plays a dual role — it's both an industrial metal and a financial safe haven. When a regional market sees a drop this steep, it can drag on sentiment across the board. The big question now is whether international silver prices will follow suit, or if this stays a localized event. Either way, volatility in silver isn't going anywhere soon.
Nataly Kambur
