Silver futures fell nearly 1 per cent to Rs 2.33 lakh per kg

Silver continued to lose its shine in futures trade, falling nearly 1 per cent to Rs 2.33 lakh per kg on Wednesday amid a strong dollar and escalating US-Iran tensions, which dented investors’ appetite for the precious metal.

The white metal for December delivery declined for the fourth straight session, falling Rs 1,841, or nearly 1 per cent, to Rs 2,33,600 per kg on the Multi Commodity Exchange (MCX).

“Silver extended its decline in Wednesday’s session as rising



US Treasury yields and a stronger dollar reduced demand for assets such as precious metals,” said Gaurav Garg, Head of Research at Lemonn Markets Desk.

The pressure on silver came as geopolitical tensions added another layer of uncertainty to the Federal Reserve’s interest-rate outlook.

Escalating US-Iran tensions pushed oil prices higher, raising concerns that renewed energy inflation could make the Federal Reserve more cautious about cutting interest rates, Garg added.