MCX silver futures have been hammered over the past four trading sessions, with prices crashing Rs 35,300 after the Centre raised import duty on gold and silver to 15% from 9%. In Monday’s session alone, MCX silver futures for July 2026 delivery slumped Rs 5,643, or 2.1%, to Rs 2,65,949 per kg.
The selloff marks a dramatic reversal for the white metal, which had surged to a record high of Rs 4.39 lakh in January. In just four months, silver prices have corrected nearly 40%, bringing the metal down to around Rs 2.65 lakh.
