Silver price crash: metal trades about 50% below its 2026 record, gold 25% lower
Published
Spot silver was near $60 an ounce on 13 October against a record $121.64 earlier this year. A dollar at an 18-month high is the main driver cited. In rupees, 10 g of 24-carat gold fell just ₹390 that day.
Original report
Prices as of 13 October 2026; published 14 October 2026. This article is for information only and is not investment advice. Readers should consult a registered adviser before investing.
The silver price crash has left the metal about half its 2026 peak. On 13 October 2026 spot silver traded near $60 an ounce, Goodreturns reported, against the record $121.64 that Samco said it reached earlier this year.
Gold has fallen less. Spot gold was $4,177 an ounce on 13 October (Goodreturns, 2026), about 25% below its record of $5,594.82 (Samco, 2026). Both metals fell for a second straight day on MCX on 13 October, Goodreturns reported.
Silver has lost about half its peak price, gold about a quarter
Silver is down roughly 50% from its record. $121.64 minus $60 is $61.64 an ounce, just over half the peak price.
Gold's fall is smaller. $5,594.82 minus $4,177 is $1,417.82 an ounce, about 25% of the record. These are our own sums on dollar spot prices.
We have not given a fall in rupee terms. The MCX figures on the pages we read conflicted or were dated. The most-cited reason for this week's fall is the dollar.
A dollar at an 18-month high is behind this week's slide
The US dollar index stood at 102.5 on 13 October, its highest since April 2025, Goodreturns reported. Markets priced an 88% chance of a US interest-rate rise in December, and Brent crude was above $105 a barrel, the same report said.
Ponmudi R, chief executive of Enrich Money, told Goodreturns gold "remains caught between Monday's one-week high and dollar hovering near 18-month high".
This is not the first sharp drop this year.
February showed how fast silver can swing
On 5 February, MCX silver fell 9%, COMEX silver 16% and MCX gold 3% in a single day, Samco reported. Profit-taking, a stronger dollar and easing tensions were the drivers cited then (Samco, 2026).
That swing cuts both ways: prices that fall this fast can also rebound fast. For families buying for Diwali, though, the rupee price is what counts.
What the fall means for Diwali buyers
In rupees, gold's move on 13 October was small. 24-carat gold cost ₹14,929 a gram, or ₹1,49,290 for 10 g, down ₹390 on the day, Goodreturns reported. ₹390 across 10 g is ₹39 a gram.
We could not confirm how far rupee prices sit below their own records. The sources we read gave no Diwali-week demand data either. For why the rupee's own slide matters to Indian prices, see our 10-year study of the falling rupee.
What to watch next
US producer inflation data is due on 14 October, Goodreturns reported. It is the next number that could move the dollar, and with it metal prices, in either direction.
Questions people are asking
Why is silver falling today?
A stronger US dollar, at an 18-month high of 102.5 on 13 October, and bets on a December US rate rise, Goodreturns reported.
How far is silver from its peak?
About 50%. Spot silver was near $60 an ounce on 13 October against a record $121.64 earlier in 2026.
Is gold falling too?
Yes. 24-carat gold was ₹1,49,290 per 10 g on 13 October, down ₹390, and spot gold is about 25% below its record.
Will prices fall further before Diwali?
That is not known. None of the sources we read forecast prices for Diwali week.
References
- Goodreturns (2026) Gold Rates & Silver Rates Today (13-10-2026) LIVE. Goodreturns. Available at: Gold Rates & Silver Rates Today (13-10-2026) LIVE (Accessed: 14 October 2026).
- Samco (2026) Silver Rate Today Falls Sharply As MCX And COMEX Prices Slide. Samco. Available at: Silver Rate Today Falls Sharply As MCX And COMEX Prices Slide (Accessed: 14 October 2026).
How we did this
We read Goodreturns's live price report for 13 October 2026 and Samco's analysis of this year's silver slide. We took each metal's 2026 record spot price from Samco and the 13 October spot price from Goodreturns, and worked out the percentage falls ourselves.
The two outlets framed the fall differently: Goodreturns around MCX pressure ahead of US inflation data, Samco around volatility returning after a record rally. We left out rupee-terms records because the MCX figures we found conflicted, and a reported ₹2 lakh gap from the high could not be confirmed.
This story was produced, reviewed, edited and verified by the reporter before publication, with AI assistance where required.
Covered by 2 outlets across the spectrum: 0% left, 50% center, 0% right.
Who is covering this story
- Center (1): Goodreturns
- Not yet rated (1): Samco