Silver futures on the Multi Commodity Exchange (MCX) staged a sharp intraday recovery on Thursday, January 22, rebounding nearly 5% from the day’s low after early weakness triggered heavy profit booking.
After slipping sharply in the morning session amid easing geopolitical risk and a stronger US dollar, MCX silver futures recovered as short covering emerged at lower levels, supported by bargain buying from participants tracking physical market tightness. At the time of writing, MCX silver was trading around ₹3,18,000 per kg, trimming most of the earlier losses.
Market participants said the rebound reflects continued underlying support for silver, despite near-term volatility. Structural factors such as persistent global supply deficits, tight inventories in key markets, and ongoing geopolitical uncertainty helped limit downside pressure.
The intraday bounce also came after silver saw an outsized correction in recent sessions, with prices retreating sharply from record highs, prompting traders to reassess risk-reward levels. While sentiment remains cautious in the short term, the swift recovery from the day’s low indicates strong buying interest on dips.
