Markets▼ Negative
Silver Is Now Down From Rs 4.2 Lakh To Rs 1.9 Lakh: Where It Goes From Here
Indian markets moved lower.
· NDTV Profit
The Devil's metal fell to an all time low of $53.8 an ounce in the international spot market. The crash from $120 to $53 now has brought MCX rates in India from Rs 4.2 lakh per kg to Rs 1.9 lakh per kg.
The analysis
Because the driver here is macro rather than company-specific, the read-through is to index-level positioning rather than to any single name — correlations tend to rise when the whole market faces the same signal.
Market context
- This is a market-wide development — its reach goes beyond any single stock.
- The immediate tone of coverage reads negative.