Silver slumps to its lowest level of 2026

International silver futures fell to about $54.3 an ounce, below every daily close this year and more than 50% below the January peak. MCX silver is down about 4.4% at ₹1,99,917 a kg.

Silver has fallen to its lowest level of 2026. International silver futures (COMEX) were trading near $54.27 an ounce on Friday, 23 October 2026, down about 5.5% from its 21 October close (the data source has no 22 October close), with an early low near $53.52. That is below every daily close so far this year; the previous 2026 low close was $55.55 on 14 October. The last time silver closed below today’s level was 26 November 2025.

How far it has fallen

Silver closed at $115.08 an ounce on 26 January 2026, the highest close of the past year on the same data. At about $54.3 it is now more than 50% below that level. It is still about 16% above the 52-week low close of $46.56 on 27 October 2025, which is about to drop out of the 52-week window.

What it means in India

On MCX, the December silver futures contract was at ₹1,99,917 a kg, down about 4.4%, according to CapitCue’s market data. MCX gold was at ₹1,43,303 per 10 grams, down about 1.9%. The Indian price also depends on the rupee, import duty and the contract month, so it will not move exactly with the international price.

What is behind it

The data does not give a single reason. The move came in the same session in which the Nasdaq fell about 2.6% in an AI and chip sell-off and Brent crude rose about 5%, while the US 10-year yield dropped below 5%. Precious metals can fall in a risk-off session when investors raise cash, but that is a general pattern, not a confirmed cause for today.

Prices are from Yahoo Finance for COMEX silver futures and from CapitCue’s MCX feed, and can differ from spot prices quoted elsewhere. Information only, not investment advice.