Hyderabad’s bullion market witnessed a sharp shock on February 1, 2026, as silver prices crashed to nearly ₹3.20 lakh per kilogram, triggering panic among traders and retail investors. The sudden fall comes after silver recently hovered close to record highs, making the correction both steep and unsettling.
At the same time, gold prices in Hyderabad are trading around ₹1.62 lakh per tola, showing relative stability compared to silver’s extreme volatility. Market watchers say this divergence highlights how silver, being more speculative and industrial-demand driven, reacts faster and harder to global cues.
The ongoing crash is largely attributed to a strengthening US dollar, aggressive profit booking, and liquidation of leveraged positions in global commodity markets. As silver futures unwind, prices have slipped rapidly, wiping out gains built over the past few weeks.
The big question now circulating in bullion circles is: Are you ready to buy silver at ₹1.5 lakh per kilogram if it falls this low? Several commodity experts are warning that silver may not have bottomed out yet. Given its history of sharp swings, further downside cannot be ruled out if global risk sentiment worsens.
Investors who entered silver near peak levels are currently under pressure, with many rushing to cut losses. Analysts advise caution, noting that while long-term fundamentals such as industrial demand remain intact, short-term prices may continue to face turbulence.
For now, Hyderabad’s silver market remains highly volatile, and traders are closely tracking global cues, currency movements, and institutional selling patterns before taking fresh positions.
