Silver Prices Crash Rs 10,000 in a Day: Is the White Metal's Rally Losing Steam?

• Silver prices plummeted by Rs 10,000 on Thursday, with March 2026 futures on MCX falling to Rs 2,40,605 per kg from Rs 2,50,605.
• The sharp decline was triggered by the annual rebalancing of key commodity benchmarks like the Bloomberg Commodity Index, leading to unwinding of silver positions.
• This correction follows silver's record rally in December 2025, when prices hit an all-time high of USD 83.60 per ounce.
• HSBC warns that silver's momentum is fading, citing "unsustainable levels" and stress in industrial and jewellery demand, unlike gold's safe-haven appeal.
• HSBC forecasts volatility, with prices retreating to USD 57.00 per ounce by 2027 and USD 47.00 by 2029, due to rising supply and softening demand.

Why It Matters: Silver's record rally faces headwinds as prices crash, with experts forecasting a long-term retreat.