Silver rate today jumps over 1% on MCX after 2-day selloff. Should you buy or sell?

Silver rate today: Silver prices rebounded on Friday, January 9, as they gained 1% after massive profit booking in the last two sessions.

Silver prices on the Multi-Commodity Exchange (MCX) opened higher at ₹2,45,600 per kg and reached an intraday peak of ₹247,127 per kg, rising over 1% as against its last close. However, MCX silver for the March 2026 contract remained around ₹12,000 below its all-time high of ₹2,59,322 per kg.

Meanwhile, on the international front, COMEX silver is presently moving within a tight range of $75–$78 per ounce, while its broader trading band extends from $70 to $80.

"The white metal is trading range-bound in both ranges. If it breaks above $78, then we can expect the precious metal to touch $80 per ounce levels, whereas on breaking below $75, the white metal may try to test its crucial support placed at $70.50 per ounce levels,” said Anuj Gupta of Ya Wealth.

Silver saw a downturn as investors positioned ahead of the annual rebalancing of commodity indexes, a process expected to trigger the sale of futures contracts worth billions of dollars in the coming days.

From Thursday, passive index-tracking funds are offloading precious metals futures to align with revised index weightings—an otherwise routine adjustment that has gained added importance for gold and silver following their sharp rallies over the past year, according to a Bloomberg report.

Should you buy or sell silver amid volatility?

According to Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of India Bullion and Jewellers Association Ltd., and Chairman at Jain International Trade Organisation, both gold and silver are likely to witness healthy corrections in the near term.

“Both Gold and Silver are in structural bull markets, so we can witness healthy short-term corrections of 10% to 15% amid profit booking and price retracement, but dips are likely to attract buying as investors increasingly view precious metals as strategic portfolio assets rather than short-term trades,” Kothari said.

Meanwhile, Ponmudi R, CEO of Enrich Money, said pullbacks continue to be absorbed aggressively, reinforcing strong underlying demand.

“Holding above ₹2,48,000– ₹2,50,000 keeps the upside momentum intact. A decisive breakout above ₹2,52,000– ₹2,55,000 could trigger a swift rally toward ₹2,60,000– ₹2,70,000. The key accumulation zone remains ₹2,45,000– ₹2,48,000, highlighting silver’s role as a high-beta outperformer within the precious metals complex,” Ponmudi R said.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.