Silver Futures Rebound Amid Crude Oil Price Decline

Silver futures have rebounded in India's Multi Commodity Exchange (MCX), rising by nearly 2% to Rs 2,44,800 per kilogram. The September delivery contract gained Rs 4,149, while the December contract advanced Rs 3,760, or 1.52%, to Rs 2,51,569 per kg.

The recovery comes as crude oil prices declined, easing inflationary concerns and supporting demand for bullion. However, investors remain cautious ahead of Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium, with market participants looking for clarity on the US central bank's monetary policy path, said Gaurav Garg, Head of Research at Lemonn Markets Desk.

Globally, Comex silver futures for the September contract rose over 2% to trade at $70.87 per ounce in New York. Analysts noted that silver futures rebounded to hover around $70 per ounce in the overseas markets.