Silver Price Corrects by -0.80% Amid Sharp Crude Oil Drop

The price of silver corrected by -0.80% to Rs 2,36,198/kg on Thursday, giving back some of Wednesday's strong +1.64% bounce as crude oil crashed -1.88% to Rs 7,803.

This reduction in energy costs has a mild positive effect on industrial silver demand but also reduces the inflation-urgency that drove Wednesday's precious metals rally.

Ankit Jaiswal and Kunal Singla from Univest identify crude oil's -1.88% Thursday fall as the dominant macro shift heading into Friday, providing substantial input cost relief to auto, FMCG, cement, and chemicals sectors.