Silver Joins Gold in a Sudden Crash! Prices Plunge by ₹60,000 per kg in One Jolt

Silver Price Crash Today:

After touching record highs continuously for several weeks, silver finally delivered a massive shock on Friday—one that rattled not only investors but also ordinary buyers. Silver, which had crossed the ₹4 lakh per kilogram mark just days ago, suddenly crashed sharply. As soon as the market opened, silver prices recorded a steep fall of nearly ₹60,000 per kilogram. With the wedding season underway, this abrupt change has completely altered the atmosphere in the bullion market.

Turmoil in the Bullion Market

On Friday morning, scenes of confusion and panic were witnessed in Indore’s bullion market. Until Thursday, silver had closed at around ₹4.10 lakh per kilogram. However, the moment the market opened on Friday, prices plunged straight to nearly ₹3 lakh per kilogram. What stood out most about this fall was its sudden and unexpected nature. Even seasoned traders were unable to comprehend how and why such a massive decline occurred. For some time, buying and selling activity came to a halt, and traders were seen grappling with uncertainty.

By afternoon, there was a slight recovery, and silver prices climbed to around ₹3.30 lakh per kilogram. But by then, investors had already suffered heavy losses.

Customers Selling Old Silver Left Stunned

The biggest impact of this crash was felt by those who had come to the market to sell their old silver. One customer said he had arrived hoping to get a good price for his old silver, given the recent highs. However, when he asked traders for the rates, he was left shocked. Initially, no trader was willing to buy his silver even at ₹3 lakh per kilogram.

After visiting several shops with great difficulty, he was finally offered a rate of ₹2.88 lakh per kilogram. He said that had he anticipated such a sudden fall, he would have postponed selling his silver by a few days.

Investors Disappointed, Buyers Get Relief

The crash has heightened anxiety among investors. Those who purchased silver at high prices over the last two to three days were visibly disappointed.

A young customer shared that she had recently bought gold and silver for her wedding and therefore managed to avoid losses. However, she cautioned that people who invest hastily just by following the upward trend may end up facing losses. According to her, investing in silver or gold is safer when done gradually and with a long-term perspective.

On the other hand, customers buying silver for immediate needs found relief in falling prices. With demand for silver jewelry and utensils rising during the wedding season, the price drop could prove to be a significant advantage for ordinary buyers.

Will Silver Prices Fall Further?

According to market experts, fluctuations in silver prices depend on global market trends, the strength of the dollar, and investor demand. For now, this sudden crash has put everyone on alert. The coming days will determine whether silver regains momentum or if prices witness further decline.