Press Releases Details
Silver prices plunge Rs 3,000/kg amid fears of demand slowdown, weighed down by Trump tariffs
- 26 Aug 2025
- JM Financial Services
Synopsis
Silver prices plummeted to Rs 96,917 per kg on MCX due to concerns of decreased industrial demand following US tariffs. Despite long-term supply issues, expectations of continued depreciation linger, while gold experiences minor gains amidst uncertainties.
The price of silver contracts plunged by nearly Rs 3,000 per kg or 2.8% on MCX to hit the day's low of Rs 96,917 on Friday, taking cues from global silver prices. The downfall was on account of fears that the industrial demand for the white metal could go down in the event of a global slowdown after US President Donald Trump's reciprocal tariffs came into effect.