Home / Business and Economy / Silver Plunges Rs 6,000 Amidst Global Turmoil
Silver Plunges Rs 6,000 Amidst Global Turmoil
19 Mar
Summary
- Silver dropped Rs 6,000 to Rs 2,56,500 per kg in Delhi.
- Gold futures decreased by Rs 898 to Rs 1,52,127 per 10 grams.
- Global events like West Asia tensions and Fed signals drive price drops.
Silver prices experienced a substantial decrease of Rs 6,000, settling at Rs 2,56,500 per kilogram in the Delhi bullion market. On the Multi Commodity Exchange (MCX), silver futures also declined by Rs 3,628, trading at Rs 2,44,566 per kilogram. Concurrently, gold futures depreciated by Rs 898, reaching Rs 1,52,127 per 10 grams, reflecting a 0.59% drop.
These significant price movements are closely linked to escalating tensions in West Asia and a more cautious stance from the Federal Reserve. Commodity experts noted that persistent global instability, including attacks on energy infrastructure and uncertainty surrounding inflation, is impacting precious metal markets. The Federal Reserve's decision to maintain interest rates and project only one rate cut this year has also contributed to market jitters.
