MCX Silver Drops 2.1% to ₹2,32,577/kg as COMEX Silver Craters 8.6%

MCX Silver has shed ₹4,995/kg since the previous close, falling from ₹2,37,572 to ₹2,32,577/kg, a decline of 2.1%. The primary mechanical driver is a sharp 8.6% collapse in COMEX Silver from USD 70.7 to USD 64.6/oz, which has overwhelmed a partially offsetting rupee move — USDINR eased from 94.86 to 94.31, a 0.58% rupee appreciation that would ordinarily cushion domestic prices but proved insufficient against the scale of the dollar-price drop. MCX Gold is concurrently down 1.54%, confirming broad precious-metals pressure rather than a silver-specific event. Volumes should be watched for any capitulation surge at current levels.

Watch: ₹2,30,000/kg as the next key support level to monitor.