New Delhi, Oct. 24 -- Silver prices have plunged below Rs.2 lakh per kg on the Multi Commodity Exchange (MCX) for the first time since December 2025, as a relentless sell-off wiped out the metal's gains for 2026. The white metal fell to Rs.1,92,800 per kg on Friday after losing around Rs.6,800 in a single session, extending its decline amid rising crude oil prices, persistent inflation concerns and expectations of tighter US monetary policy.

The correction has been steep. Silver has dropped 22.5% from its August 2026 peak of Rs.2,48,800 per kg and more than 50% from its January record high of Rs.4,20,048 per kg. Over the past 10 trading sessions, prices have fallen by more than 14%, erasing Rs.32,955 per kg from the baseline cited in the...