Silver Prices Plummet Amid Strong Dollar and US-Iran Tensions

Silver futures fell for a fourth consecutive session on Wednesday due to a strong US dollar and rising US Treasury yields, which reduced demand for the precious metal.

The MCX price of white metal for December delivery dropped by Rs 1,841 or nearly 1% to Rs 2.33 lakh per kg.

Gaurav Garg, Head of Research at Lemonn Markets Desk, noted that 'silver extended their decline in Wednesday's session as rising US Treasury yields and a stronger dollar reduced demand for assets such as precious metals.'

The pressure on silver also came from escalating US-Iran tensions, which added uncertainty to the Federal Reserve's interest-rate outlook.