Commodities
Silver Prices Plunge Over 3% Amid Rising Fed Rate Hike Bets
Silver exchange-traded funds (ETFs) fell more than 3 percent on Friday as the precious metal remained under pressure in international markets following a sharp sell-off in the previous session.
The decline came amid rising US interest-rate expectations, with stronger-than-expected producer inflation and surging crude prices adding to concerns that the Federal Reserve could raise interest rates at its policy meeting next week.
The SBI Silver ETF was down 3.2 percent at Rs 221.77, while ICICI Prudential Silver ETF fell 3.1 percent to Rs 226.16 and Nippon India Silver ETF declined 3.1 percent to Rs 216.59.