Silver Prices Slide as Higher US Interest Rates Weigh on Market

Silver futures fell for the second consecutive session on the Multi Commodity Exchange (MCX), dropping by Rs 1,743 to Rs 2.37 lakh per kg as traders await signals from Federal Reserve officials.

The December contract of MCX silver futures declined nearly 1% in value, weighed down by growing expectations that interest rates will stay higher for longer.

Renisha Chainani, Chief Research Officer at Augmont, said 'MCX silver futures are struggling to find fresh momentum, with sentiment weighed down by growing expectations that interest rates will stay higher for longer.'

The Comex futures for December delivery also fell 1% to $65.75 an ounce in New York, as investors wait for further indications of the central bank's policy direction.