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Silver prices have wiped out all the gains made so far this year and crashed to a low of nearly ₹2.4 lakh per kg on the Multi Commodity Exchange (MCX). Bracelet and coin metal, which spiked to above ₹4.39 lakh per kg in January, is down some 46% in the past three months and below its end-2025 levels.

Market experts say the strong decline is driven by a higher US dollar, unwinding of gains after its huge rally last year, and global risk-off sentiment. Last week, May silver futures hit a low of about ₹2.40 lakh-₹2.44 lakh per kg, erasing all gains this year.

This steep decline has caught the attention of both retail and institutional investors, who are wondering whether it is time to buy or a trend for the worse. Industrial demand and safe-haven buying had initially driven silver's price, but recent market conditions have led to excessive selling.

In 2016, investors are anxiously watching international indicators as silver continues to be volatile.