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NSE:AXISSIL News 5 February 2026

Silver ETFs crash 21% as MCX silver drops 10% in India, gold whipsaws on dollar and Fed nerves

Silver ETFs crash 21% as MCX silver drops 10% in India, gold whipsaws on dollar and Fed nerves

MUMBAI, Feb 5, 2026, 15:46 IST Silver futures on India’s Multi Commodity Exchange (MCX) plummeted 10% Thursday, with the March contract sliding Rs 26,850 to Rs 2,42,000 per kg. Gold April contracts dipped 1.51%, ending at Rs 1,50,736 per 10 grams. The Axis Silver ETF hit a low of Rs 216.86. MCX Clearing Corporation announced margin hikes starting Thursday: 4.5%…
5 February 2026
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Stock Market Today

  • Bitcoin Drops Below $70,000 After U.S. Treasury Denies Authority to Bail Out Crypto
    February 5, 2026, 9:08 AM EST. Bitcoin briefly fell below $70,000 on Thursday after U.S. Treasury Secretary Scott Bessent stated the government lacks authority to rescue cryptocurrency banks. This followed his testimony before the House Financial Services Committee, where he clarified no bailout powers exist for crypto holdings. Bitcoin hit a low of $69,525 amid broader market sell-offs and warnings from investor Michael Burry, who cautioned bitcoin's speculative nature risks triggering a "death spiral" and significant value loss. The cryptocurrency faces mounting pressure after slipping almost 20% year-to-date, compounded by hawkish Federal Reserve nominations and ongoing deleveraging. Analysts highlight weak investor sentiment and technical trends indicate a continued downtrend with little inclination for immediate rebounds amid market uncertainty.
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