Silver hits 11-month low of ₹1.95 lakh as crude stokes inflation fears
On the Multi Commodity Exchange (MCX), silver futures fell ₹6,799 per kg, or 3.4%, to ₹1,92,800 per kg on Friday. Prices have plunged ₹32,955, or more than 14%, over the past 10 sessions. A recent appreciation in the rupee has provided only limited relief against the decline in international prices.
Kolkata: Silver prices have plunged to an 11-month low, falling more than 53% from their record high of ₹420,048 per kg on January 29, as surging crude oil prices rekindle inflation fears and expectations of higher interest rates dampen the appeal of precious metals. Gold, too, is under pressure, having declined more than 20% from its peak this year, as investors reassess their exposure to non-yielding assets.On the Multi Commodity Exchange (MCX), silver futures fell ₹6,799 per kg, or 3.4%, to ₹1,92,800 per kg on Friday.
