Commodities
Silver Prices Soar to Four-Week High Amid Global Market Gains
Silver futures saw a significant surge on Wednesday, hitting a four-week high of Rs 2.26 lakh per kg.
The September contract for silver rose by Rs 4,545, or 2.05%, to Rs 2,26,160 per kg on the Multi Commodity Exchange (MCX).
This increase follows global market gains and hopes of easing inflation pressures.
Renisha Chainani, Chief Research Officer at Augmont, attributes the rise in silver prices to investors weighing reports of a possible deal to reopen the Strait of Hormuz.