Silver Prices Plunge Nearly 1% Amid Dollar Strength and Iran Tensions

Silver prices continued to decline in futures trade on Wednesday, falling nearly 1% to Rs 2.33 lakh per kg.

The price drop was attributed to a stronger dollar and escalating US-Iran tensions, which reduced investor demand for precious metals.

Gaurav Garg, Head of Research at Lemonn Markets Desk, noted that rising US Treasury yields and a stronger dollar make assets such as precious metals less attractive to traders.

Higher crude prices also contributed to the decline in silver prices, with Garg stating that they could add to inflationary pressures and remain a key risk for both domestic and international commodity rates.