Silver's record run hits a speed bump
Silver prices on the MCX took a sharp dip, dropping ₹10,000 per kg during the intraday session—from ₹2,50,605 to ₹2,40,605.
By Thursday noon, they'd bounced back slightly to ₹2,43,911 but still sat 2.67% below yesterday's close.
This comes right after silver hit its all-time high in December.
Why the sudden drop?
The recent slide follows a wild rally driven by global supply shortages—last year saw a huge deficit of 230 million ounces.
Even with today's correction, HSBC thinks silver will average $68.25/oz in 2026 (way up from their earlier $44.50 prediction).
What's next for silver?
HSBC says these sky-high prices probably won't last and expects more drops ahead—down to $57/oz by 2027 and $47/oz by 2029—as demand cools and mining ramps up.
The supply gap is also expected to shrink fast over the next couple of years.