Silver Price Forecast Points to Sideways to Bearish Trend

The price of silver on the MCX (Multi Commodity Exchange) for the Mini contract settled at Rs 2,31,740 per kilogram (-0.97%) on August 19, 2026, marking its sharpest single-day decline in the current cycle. Ankit Jaiswal, Research Analyst at Univest, notes that this drop reflects silver's dual headwind: weak precious metals and industrial metals. Kunal Singla observes that the Relative Strength Index (RSI) has slipped to 40-43, approaching oversold territory.

Ankit Jaiswal places support at Rs 2,36,000, just above today's low of Rs 2,29,711, for the silver price prediction tomorrow. A hold above this level keeps the silver price sideways, while a break below targets Rs 2,34,000. Resistance at Rs 2,32,343, which is today's high, is the first hurdle.

Kunal Singla notes that RSI near 40 creates a potential bounce zone in the silver price prediction tomorrow. A recovery above Rs 2,32,343 targets Rs 2,39,000 in the silver price prediction tomorrow. The MCX Silver November contract at Rs 2,43,130 confirms longer-term demand, providing structural support for the silver price prediction.