Commodities
Silver Tumbles on Strong Dollar and US-Iran Tensions
Silver prices fell nearly 1% to Rs 2.33 lakh per kilogram on Wednesday due to a strong dollar and escalating US-Iran tensions.
The white metal for December delivery declined by Rs 1,841 to Rs 2,33,600 per kg on the Multi Commodity Exchange (MCX), marking its fourth consecutive decline.
Gaurav Garg, Head of Research at Lemonn Markets Desk, attributed the decline to rising US Treasury yields and a stronger dollar, which reduced demand for assets like precious metals.
The situation was further complicated by escalating US-Iran tensions, which pushed oil prices higher and raised concerns about renewed energy inflation making the Federal Reserve more cautious about cutting interest rates.