The white metal is marking a “red Saturday” as the price of silver on the MCX in early trading today dropped by more than ₹3,500 to ₹2,48,500 per kg. Such downtrend comes against a backdrop of a robust US Dollar and a shift in global industrial demand. But the biggest jolt for investors is not the dip seen today, but a new forecast which foreshadows silver losing up to 75% of its value within the next 24 months.
The “75% Fall” Prediction: Reality or Fearmongering?
At this point, the world’s best commodity strategists have hit a warning call about the end of this “silver bubble” phenomenon of 2025. Overvaluation: Speculative buying drove silver prices to unsustainable levels last year, analysts say.
- Industrial Shift: Emerging alternatives in solar panel manufacturing (a major consumer of silver) are reducing the metal's industrial "premium."
- Historical Cycles: “We have seen a mean back down of 60-75% over a two-year window after every 300% surge in silver, historically,” said a senior analyst at a Mumbai brokerage. If that continues, silver would possibly see a recovery to the ₹80,000–₹95,000 range by early 2028.
City-Wise Silver Rates (February 7, 2026)
While MCX mirrors the futures market, retail prices of 1 kg of silver differ due to local taxes and making charges:
| City | Silver Rate (per Kg) | Change from Yesterday |
| Delhi | ₹2,52,000 | ↓ ₹3,200 |
| Mumbai | ₹2,51,500 | ↓ ₹3,500 |
| Chennai | ₹2,58,000 | ↓ ₹2,800 |
| Bengaluru | ₹2,53,000 | ↓ ₹3,000 |
| Hyderabad | ₹2,58,000 | ↓ ₹2,800 |
| Kolkata | ₹2,52,500 | ↓ ₹3,100 |
Avoid Lumpsum Spending: Financial advisers recommend that investors stick to a "Hold Their Ps" approach; the risk of a bigger correction looms. Watch the $30 Level: If silver falls below the $30/ounce mark globally, the domestic drop could speed up dramatically. Gold-Silver ratios are widening now, indicating a more stable gold store of value than the volatility of silver prices.
