Silver Prices Soar as Crude Oil Declines Ahead of Jackson Hole Symposium

Silver futures on the Multi Commodity Exchange (MCX) rebounded nearly 2% on Friday, reaching Rs 2.44 lakh per kilogram after falling crude oil prices eased inflation fears and boosted bullion demand.

The white metal for September delivery climbed by Rs 4,149 to Rs 2,44,800 per kilogram, while the December contract advanced Rs 3,760, or 1.52%, to Rs 2,51,569 per kg on the commodities bourse.

Gaurav Garg, Head of Research at Lemonn Markets Desk, said that investors remained cautious ahead of Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium, where market participants are looking for clarity on the US central bank's monetary policy path.