Silver Futures Drop to ₹2.49 Lakh/kg as Participants Cut Bets

Silver remains sensitive to dollar movement and interest rate expectations. The precious metal has traded in a range near $70 in recent weeks, with industrial demand concerns and gold's pullback capping upside. For broader precious metals context, see our gold profile.

The sell-off on Wednesday broke below the recent support level of ₹2,50,000 per kg on MCX, a threshold traders had been watching. A sustained close below that level could open a move toward ₹2,45,000, several market participants said. On the upside, a recovery above ₹2,52,000 would be needed to stabilize the trend.

On Thursday, traders will watch weekly US jobless claims for further cues on the labor market and the dollar's path.