Silver Dips Below ₹2.36 lakh per Kg on Strong US Job Data

Silver prices in India breached the ₹2.36 lakh per kilogram barrier on Monday, reacting to upbeat employment figures from the United States. The December 2026 silver contract on the MCX opened at ₹2,37,176 per kilogram, a modest decline from the previous close of ₹2,37,658. By the time of the report, the metal was trading at ₹2,36,985, down ₹673 or 0.28%.

The day’s price range saw a low of ₹2,36,423 and a high of ₹2,37,658. International markets echoed the move, with silver quoted at $66 per ounce, slipping 0.56%.

Analysts linked the drop to stronger-than-expected U.S. job data, which has heightened expectations that the Federal Reserve may raise interest rates further. A resilient dollar index, hovering near 99, also exerted downward pressure on silver, as investors shift to higher‑yielding assets.