Silver Price Today, October 26, 2026: Silver prices have witnessed a sharp correction from their earlier highs, raising questions among investors and jewellery buyers about whether the precious metal could become even cheaper in the coming weeks. With Dhanteras, Diwali and the wedding season approaching, market participants are closely watching silver prices for potential buying opportunities.

According to Kishore Runwal, CEO of Anmol Silver, the correction in silver prices may not be over yet. In comments reported from a CNBC interview, he indicated that prices could decline further before finding a stable level.

The expert noted that silver has already fallen approximately 25% from its highest level this year. Despite this substantial decline, he believes the market may experience additional weakness.

His projections suggest that domestic physical silver prices could potentially fall to ₹1.80 lakh–₹1.85 lakh per kilogram, while MCX silver futures could move towards ₹1.75 lakh–₹1.80 lakh per kilogram if selling pressure continues.

These figures represent an analyst's forecast rather than confirmed future prices.

Silver Price Outlook 2026: How Much Further Could Rates Decline?

Silver has experienced significant price fluctuations this year, with sharp rallies followed by considerable corrections.

According to the supplied report, Kishore Runwal believes that the market has not necessarily established a lasting bottom.

He suggested that the recent decline could continue if global economic conditions and investor sentiment remain unfavourable.

The following table summarises the price levels discussed in the report.

These projections are conditional and should not be treated as guaranteed price targets.

Why Are Silver Prices Under Pressure?

Several international and domestic developments can influence the direction of silver prices.

The supplied report identifies interest rate expectations, crude oil prices and geopolitical uncertainty as important factors affecting market sentiment.

Higher interest rates can make interest-bearing assets more attractive compared with precious metals, which do not generate regular interest income.

At the same time, uncertainty surrounding global economic conditions can influence investment flows into commodities.

Silver is also different from gold because it has substantial industrial applications. Changes in manufacturing activity and industrial demand can therefore affect its price.

Consequently, silver may experience sharp movements when financial market conditions and industrial demand expectations change simultaneously.

MCX Silver Price: Why the ₹1.92 Lakh Level Matters

The report highlighted approximately ₹1.92 lakh per kilogram as an area where MCX silver futures had recently found some buying support.

In market terminology, a support level is a price area where buying interest may temporarily slow a decline.

However, support levels are not guaranteed to hold.

According to the expert's assessment, silver struggled to sustain its recent recovery, with prices surrendering gains during trading.

This behaviour was interpreted as a sign that market confidence remained fragile.

If selling pressure intensifies, lower price levels may come into focus. Conversely, renewed buying demand or favourable international developments could support a recovery.

Dhanteras and Diwali 2026: Will Lower Prices Encourage Silver Purchases?

The festive season traditionally attracts interest in gold and silver across India.

Many households purchase precious metal coins, jewellery and utensils during Dhanteras because of their cultural significance.

Lower silver prices can make these purchases more affordable for consumers who had postponed buying during earlier rallies.

According to Runwal's observations in the supplied report, customer interest has started improving as prices have declined.

He indicated that jewellery stores were witnessing renewed activity from buyers looking to take advantage of more affordable rates.

If silver prices remain relatively low for an extended period, festive demand could strengthen further.

However, increased consumer interest does not necessarily guarantee an immediate recovery in market prices.

Silver Coins and Bullion May Attract Buyers First

The expert suggested that demand for silver bars and coins could recover before purchases of decorative or jewellery products increase substantially.

Bullion products are often preferred by buyers who want exposure to the metal without paying substantial jewellery-making charges.

As the wedding season approaches, demand may gradually expand towards silver ornaments, utensils and gift items.

This could provide some support to domestic consumption.

Nevertheless, actual demand will depend on household budgets, prevailing market prices and consumer confidence.

Could Silver Prices Reach ₹1.75 Lakh per Kilogram?

The possibility of MCX silver falling towards ₹1.75 lakh per kilogram is one of the key projections highlighted in the report.

Runwal suggested a potential MCX range of ₹1.75 lakh to ₹1.80 lakh if the downward trend persists.

For the physical domestic market, he discussed a possible range of ₹1.80 lakh to ₹1.85 lakh per kilogram.

These figures should be interpreted carefully because futures and physical silver quotations may differ due to contract specifications, taxes, local premiums and other costs.

There is also no certainty that silver will reach these levels.

A recovery in industrial demand, changes in currency markets or a shift in global interest rate expectations could alter the outlook.

Silver Imports and Domestic Supply: What Could Change?

The supplied report also discussed India's silver import situation.

According to Runwal, lower imports have not resulted in a sufficiently strong supply shortage to reverse the prevailing market weakness.

He also referred to steps intended to simplify certain import-related licensing requirements, which could improve supply availability.

However, the precise regulatory changes and their implementation details would need confirmation through official government notifications.

In general, improved supply availability can reduce pressure on domestic premiums, while shortages may contribute to higher local prices.

The effect on silver rates depends on how supply conditions interact with consumer and industrial demand.

Should Investors Buy Silver Now or Wait?

The recent correction may attract buyers who believe silver offers value at lower prices.

However, falling prices do not automatically indicate that an asset has become inexpensive relative to its future prospects.

Investors should consider the possibility of further declines, particularly because silver can be more volatile than gold.

Those purchasing physical silver should also account for taxes, dealer margins, storage requirements and differences between buying and selling prices.

For jewellery buyers, purity and making charges are additional considerations.

Rather than relying entirely on short-term forecasts, buyers should evaluate their financial goals and ability to withstand price fluctuations.

Silver Price Forecast 2026: What Should Buyers Watch Next?

The near-term outlook for silver will depend on several developments, including US monetary policy signals, international commodity prices, currency movements and domestic festive demand.

Market participants will also watch whether silver can sustain a recovery from recent support areas.

Strong demand during the festive and wedding seasons could provide some support, but global market conditions may continue to influence price movements.

The expert's forecast indicates that the correction may not yet have run its course.

Silver Price Today, October 26: Key Takeaway

Silver has undergone a substantial correction from its earlier peak, and the market remains sensitive to international economic developments.

According to Anmol Silver CEO Kishore Runwal, additional weakness could take domestic silver quotations towards ₹1.80 lakh–₹1.85 lakh per kilogram, while MCX futures could potentially approach ₹1.75 lakh–₹1.80 lakh.

At the same time, lower prices are encouraging renewed consumer interest ahead of Diwali and the wedding season.

Important: These are market projections attributed to the expert in the supplied report, not guaranteed price levels or an official forecast. The article does not establish a verified live silver price for October 26.

Disclaimer: This article is intended for general information only and does not constitute financial or investment advice. Precious metal prices are volatile, and readers should verify current market rates and consult a qualified financial adviser before making investment decisions.