Silver Rate Today: Is the Silver Rally Nearing Its Peak After Recent Sell-Off?
Silver rate today remains under pressure after a sharp pullback from record highs, raising concerns among market participants about whether the recent rally in the precious white metal is nearing exhaustion. Experts say a decisive move below key technical levels could confirm that silver prices have topped out in the near term.
Why Is Silver Price Under Pressure Today?
Silver prices witnessed selling pressure last week amid a stronger US Dollar, easing geopolitical tensions between the US and Iran, and renewed expectations around a potential US Federal Reserve rate cut following improved US unemployment data.
In the international market, COMEX silver price settled at $88.537 per ounce, recording an intraday decline of about 4.15%. The metal is now trading nearly 5.50% below its all-time high of $93.700 per ounce, triggering speculation about a possible peak in the ongoing rally.
According to Anuj Gupta, SEBI-registered commodity expert, the retracement is driven by both fundamental and technical factors. He pointed out that rising margin requirements imposed by the Chicago Mercantile Exchange (CME) on silver futures contracts have also limited buying interest at elevated levels.
CME Margin Hike Adds to Selling Pressure
Gupta noted that the CME has already raised margin requirements for January and February 2026 silver futures contracts to 45%, and further increases could follow if volatility persists. Historically, such steps have often cooled speculative interest and contributed to price corrections in silver.
Key Levels to Watch for Silver Price Topping Out
Experts believe that a break below critical support zones could confirm the end of the current uptrend.
COMEX Silver:
If prices close below $82 per ounce and fail to reclaim this level within one to two trading sessions, it may indicate that the silver rally has peaked.
MCX Silver (India):
A close below ₹2,70,000 per kg, without making a new high, could signal the start of institutional profit-booking, according to Amit Goel, Chief Global Strategist at Pace 360.
What the Gold-Silver Ratio Signals
The gold-silver ratio, a key indicator watched by bullion investors, has slipped below 52, suggesting that gold currently appears more attractive than silver. Historically, a ratio closer to 80 is considered balanced, making the current levels appear stretched.
Goel noted that while gold has already shown signs of consolidation, silver may still have some momentum left. However, he cautioned that the rally could top out within the next month, depending on price action near resistance zones.
Could Silver See a Sharp Correction After Topping Out?
Market experts warn that silver has a history of steep corrections following strong bull runs.
In 1980, silver prices collapsed after exchanges raised margin requirements during the Hunt Brothers episode.
In 2011, silver prices fell nearly 75% after peaking near $48 per ounce.
Anuj Gupta believes a similar pattern could unfold once silver confirms a top, while Amit Goel expects a minimum 30% correction from peak levels by October 2026, if prices lose momentum.
Silver Rate Today: Support and Resistance Levels
According to Ponmudi R, CEO of Enrich Money, silver remains technically bullish as long as key supports hold:
COMEX Silver:
Support at $82–$83, resistance near $92–$93. A breakout above $92 could open the door for $95–$100.
Support at ₹2,80,000–₹2,83,000, resistance near ₹2,95,000. A sustained move higher could push prices toward ₹3,05,000–₹3,20,000.
Outlook for Silver Investors
While short-term volatility remains high, experts advise investors to closely monitor support levels, margin changes, and macroeconomic signals. The broader trend remains bullish unless key supports are breached, but caution is advised as the market approaches critical inflection points.
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