Silver rate today: Precious metals witnessed one of the sharpest corrections in decades on Friday, January 30, 2026, as aggressive profit-booking followed the explosive rally to record highs earlier this month. The gold price in the international market fell by over 11%, while the COMEX silver price crashed by over 31%. After a sharp correction on Friday, the silver rate today is 35% below its record high of $121.755/oz. However, experts predict more corrections as the precious white metal seems to have topped out, and big institutions may continue booking their profits in the near term.
Silver price today: What triggered the sharp fall?
Asked about the reason that triggered the sharp sell-off in silver prices, Ponmudi R, CEO at Enrich Money, said, “The primary trigger was the nomination of Kevin Warsh as the next US Federal Reserve Chair by President Trump. Mr Warsh, known for his hawkish stance on inflation control and emphasis on Fed independence, prompted a rapid macro re-pricing: the US dollar strengthened, real yields rose, and leveraged positions in gold and silver, viewed as overextended. debasement hedges, unwound swiftly. This resulted in violent liquidation, erasing billions in market value and flushing out weak hands in a classic euphoria-to-exhaustion phase, rather than signaling a structural bear-market reversal.”
CME raises margins for silver, gold
Expecting more slide in silver prices, Anuj Gupta, a SEBI-registered commodity expert, said, “After raising margins for copper, the Chicago Mercantile Exchange (CME) has raised margin money on gold and silver. The CME has raised margins for gold from 6% to 8%. It has raised margins for silver from 11% to 15%, which is expected to keep the precious metals under pressure.”
Anuj Gupta further added that the Indian jewelery business has received a double hit due to soaring gold and silver prices and sluggish demand. To boost the jewelery business in India, the market is expecting an import duty cut in the upcoming Union Budget 2026. In that case, both domestic and global triggers would become negative for gold and silver prices, Gupta added.
Silver rates may crash by 30% more
Whether the silver price rally has topped out now, Amit Goel, Chief Global Strategist at Pace 360, said, “The chances of the silver price rally topping out have gone up after the COMEX silver price ended below $4,900/oz. So, much will depend upon the kind of opening silver gets on Monday in the international market. If it fails to come above $4,900 during morning deals, then panic selling may further intensity, and we may see some sharp selling. after the opening of the US markets.”
Expecting the sharp selling to continue on Monday, Amit Goel of Pace 360 said, “Despite structural demand for the white metal still intact, the silver price today is sitting on a bubble. The silver rate today remains above fair value, and we expect this sharp correction to continue in the near term. Even though the upcoming sell-off may not be one-directional, I expect at least a 30% further correction in the white metal price from here. I expect silver prices to reach. at least $ 50/oz by the end of June 2026. On MCX, the silver price today is around ₹2,92,000 per kg, and the silver price in India is expected to touch ₹2 lakh per kg by the end of June 2026.
CME raises margin money on gold, silver
CME Group is raising margins on Comex gold and silver futures after prices suffered their biggest slides in decades.
Gold margins will rise to 8% of the value of the underlying contract from the current 6% for a non-heightened risk profile, the exchange said in a statement on Friday. The heightened risk profile margins will be increased to 8.8% from the current 6.6%, it said.
Silver margins will climb to 15% from the current 11% for non-heightened risk profile, while the heightened risk profile margins will be hiked to 16.5% from the current 12.1%, according to the statement. Platinum and palladium futures’ margins will also be boosted.
The change takes effect from Monday’s close and follows a “normal review of market volatility to ensure adequate collateral coverage,” it said.
The increase means those who want to trade futures of gold, silver, platinum and palladium will need to put up more collateral to ensure they can meet their obligations. While the exchange routinely raises margins when a contract is soaring, sliding or extremely volatile, Friday’s move could further edge out smaller players who don’t have enough cash to make the necessary deposits.
(With inputs from Bloomberg)
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Key Takeaways
- Silver prices have experienced significant corrections due to macroeconomic factors and profit-taking.
- Margin increases by the CME are likely to keep precious metals under pressure.
- The jewelery industry in India is facing challenges from high silver prices and may benefit from policy changes in the upcoming Union Budget.
