More Stories

Informist, Monday, Feb. 2, 2026

 

--MCX March silver hits lower circuit at INR 233,774 per kg 

 

MUMBAI – Futures contracts of silver fell further on the Multi Commodity Exchange of India on Monday, as traders continued to book profits. Prices also fell as the Chicago Mercantile Exchange has increased margins on precious metals, Ajay Kedia, director, Kedia Advisory, said. 

 

At 1333 IST, the most-active March silver contract on MCX was down 12% from Sunday at INR 231,617 per kg. The contract had earlier hit lower circuit at INR 233,774 per kg and fell further to INR 225,805 per kg.

 

Citing market volatility, the Chicago Mercantile Exchange has raised the margin on silver futures for non-heightened risk profiles to 15% from 11%, and that for heightened risk profiles to 16.5% from 12.1%.

 

Prices also fell after US President Donald Trump nominated Kevin Warsh as the next US Federal Reserve Chair. "...hopes for aggressive interest rate cut by US Federal Reserve started fading after US President Donald Trump named former Fed Governor Kevin Warsh as his choice to succeed Jerome Powell as Fed Chair," ICICI Direct said in a report.

 

"Warsh checks a long list of boxes for Trump as his pick to run the Fed, with longstanding political and social ties to the president, deep Wall Street connections and a well-tailored demeanour. But how deeply and quickly he will cut interest rates and how aggressively he will pursue his "regime change" at the Fed remain open questions," SMC Global Securities said in a report. Typically, higher interest rates dent the demand for non-yielding precious metals.

 

For the rest of the day, the March silver contract is expected to trade in a range of INR 180,000-INR 270,000 per kg, analysts said.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Reshma Ravi

Edited by Ashish Shirke

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.