Silver rate today: Is silver price getting ready for a big crash after a Hunt Brothers-like rally?

Silver rate today: After Donald Trump's conciliatory remarks on Greenland and tariffs on eight NATO countries, silver prices came under selling pressure on Thursday. Among bullions, the silver rate today is about 2.75% below its record high of $95.780 per ounce. This could become possible because the COMEX silver price is quoting $93.125 per ounce, after strong profit-booking on Wednesday evening after Donald Trump's speech at the World Economic Forum, Davos. After cooling amid geopolitical tensions, speculation is high that the precious white metal is poised to reach its peak in the near term. The speculators betting on a top-out in the silver price rally believe that the US government is in a whole mood to use its age-old tool to control rising silver prices — by raising margin requirements. The US government has already done this once ahead of the New Year, when the Chicago Mercantile Exchange (CME) raised margins on silver. If needed, they can increase the margin limit to contain volatility in the precious white metal.

Why is the silver price today under pressure?

On reasons that are dragging silver rates today under selling pressure, Anuj Gupta, a SEBI-registered commodity expert, said, “From the fundamental perspective, silver price remained under pressure on the weekend sessions as the COMEX silver price finished on Friday at $88.537 per ounce, nearly 5.50% below the record high of $93.700 per ounce. However, Donald Trump's tariff rant about NATO countries demanding Greenland from Denmark fueled a fresh geopolitical tension, leading to a spike in gold and silver prices. In the current scenario, it would be interesting to see whether the CME decides to put more pressure on the precious metals and raise the margin money percentage or not.”

Anuj Gupta said that CME has raised the margin for the silver futures January and February 2026 contracts to 45%, and this is expected to go further northward if the white metal doesn't top out soon.

Level to assume silver price topping out

"If the COMEX silver price ends below $85 per ounce level and doesn't regain that psychological $85 per ounce level in the next one to two sessions, then one can assume that the silver price has made its top. Similarly, on the MCX, if silver rate ends below ₹2,70,000 per kg levels, without breaking the current high, then you can assume that silver price has made its top and now it's gearing for the long-awaited profit-booking by institutions," said Amit Goel, Chief Global Strategist at Pace 360.

Gold-silver ratio

Advising silver investors to look at the gold-silver ratio, Amit Goel of Pace 360 said, "In the international market, the gold-silver ratio has slipped below 52, which signals buying in gold is more favourable than silver. In this gold-silver ratio, 80 is the pivot point, and from there, the ratio has come close to 50, which is beyond expectations. As most metals have stalled their rallies, I believe gold and silver may also top out soon. However, the gold price rally will top out first, as it has already shown signs of lethargy, trading in a tight, narrow range compared to silver. So, some steam in silver is still left, and it would be interesting to see whether it will be able to come close $100 levels to $100 levels or not."

"I am expecting that silver price rally may top out in the next month. The only curiosity left in the silver price rally is whether these rebounds are mere dead cat bounce or still have the potential to make a new record high, close to or above $100 levels," said Amit Goel of Pace 360.

Is a big crash coming after a Hunt Brothers-like rally?

Expecting a sharp decline in silver prices once the white metal tops out, Anuj Gupta said, "Silver price has a history of crashing heavily after a strong bull trend. We saw this happen in 1980, when the Hunt Brothers reportedly accumulated around one-third of the global silver reserves. This forced exchanges to increase margin money, which has already begun as CDX has raised margin money by 25%. This triggered short covering amid the liquidity squeeze, and silver prices fell from around $49.50 to around $11 per ounce. The same thing happened in 2011 when silver rates fell 75% after peaking at near $48 per ounce levels."

Echoing Anuj Gupta's views, Amit Goel of Pace 360 said, "After topping out, silver prices are expected to witness a sharp fall, and by the end of October 2026, we can expect at least 30% correction from the top out peak."

Silver rate today: Key levels to watch

On key levels regarding silver price today, Ponmudi R, CEO at Enrich Money, said, "COMEX Silver is trading firm near $92–$93 after recently touching record highs above $95.80. Prices remain decisively above short- and medium-term averages post-breakout, reflecting strong buyer dominance. The rally is driven by a combination of robust industrial demand (solar, EVs, AI, electronics) and safe-haven flows amid tightening global supply. While $90–$92 may see brief consolidation, a decisive move above $95 could accelerate the rally toward the psychological $100+ zone. Strong structural support lies at $85–$88."

Similarly, on the MCX silver rate outlook, Ponmudi said, “MCX Silver remains entrenched in a strong bullish channel, with consistent buying emerging on dips. The metal continues to outperform as a high-beta precious metal play. Sustained strength above ₹3,15,000 keeps the upside bias intact, with breakout targets placed at ₹3,35,000– ₹3,50,000 and beyond. On corrective declines, a move below ₹3,00,000 could lead to a test of the ₹2,90,000– ₹2,80,000 zone, where fresh accumulation is likely to emerge.”

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.