Silver Prices Plummet Amid Strong Dollar and Escalating Tensions

Silver futures fell nearly 1% to Rs 2.33 lakh per kilogram on Wednesday, weighed down by a strong US dollar and escalating US-Iran tensions.

The decline in silver futures was the fourth straight session, with prices falling Rs 1,841 or almost 1% to Rs 2,33,600 per kg on the Multi Commodity Exchange (MCX).

Analysts cited rising US Treasury yields and a stronger dollar as reasons for the reduced demand for precious metals.

Gaurav Garg, Head of Research at Lemonn Markets Desk, noted that geopolitical tensions added uncertainty to the Federal Reserve's interest-rate outlook.