Silver rate today: Silver prices in India eased on Friday as a stronger U.S. dollar and rising oil prices dampened investor sentiment. Investors were on edge amid persistent inflation concerns and expectations of further monetary tightening by the U.S. Federal Reserve. Heightened geopolitical tensions surrounding U.S.-Iran negotiations also kept market sentiment cautious, supporting safe-haven demand for precious metals.
On MCX, Silver price fell 0.5% to ₹2,73,266 per kg while MCX Gold also declined 0.5% to ₹1,58,816 per 10 grams.
Spot silver fell 0.7% to $76.18 per ounce by 0222 GMT. Despite the decline in the latest session, the white metal was still headed for a weekly gain of around 0.4%, outperforming gold during the week.
The precious metals market remained volatile as traders reacted to a stronger U.S. dollar and rising Treasury yields. The dollar hovered near a six-week high, making dollar-priced commodities more expensive for holders of other currencies and limiting buying interest in silver and gold.
Silver also came under pressure from rising bond yields as investors increasingly priced in the possibility of another interest rate hike by the U.S. Federal Reserve later this year. Higher interest rates generally reduce the appeal of non-yielding assets like silver and gold because investors tend to shift toward interest-bearing instruments.