Commodities
Silver Prices Plummet on Profit-Taking and Global Concerns
Silver futures declined by Rs 749 to Rs 2.41 lakh/kg on Friday due to profit-taking and global market uncertainty.
The fall in silver prices was primarily driven by investors booking profits after recent gains, as well as concerns over inflation and interest rates impacting investor sentiment for precious metals.
According to Akshat Siddhant, Lead Quant Analyst at investment platform Mudrex, the renewed US strikes on Iran and Iranian retaliation have tightened supply concerns, keeping fuel prices elevated.