Silver Futures Soar to Four-Week High on Global Economic Optimism

Silver futures rose to their highest level in nearly four weeks on Wednesday due to strong global cues, easing inflation expectations, and improved investor sentiment.

The most-active September silver contract increased by Rs 4,545 (2.05%) to settle at Rs 2,26,160 per kilogram on the Multi Commodity Exchange (MCX).

Market analysts attributed the surge in silver prices to a combination of global economic developments, easing concerns over inflation, and renewed safe-haven demand.

Renisha Chainani, Chief Research Officer at Augmont, said: 'Silver prices are trading higher as investors weigh reports of a possible deal to reopen the Strait of Hormuz.'