Silver futures tumble Rs 9,031 to Rs 2.39 lakh/kg amid crude oil surge, Fed stance

NEW DELHI: (Mar 19) Silver futures tumbled by Rs 9,031 to Rs 2.39 lakh per kilogram on Thursday, marking the seventh straight session of losses, as rising crude oil prices and a hawkish US Federal Reserve outlook dampened investors’ sentiment.

On the Multi Commodity Exchange, the white metal for the May delivery slumped by Rs 9,031, or 3.64 per cent, to Rs 2,39,163 per kilogram in a business turnover of 6,372 lots.

Analysts said persistent inflation concerns, driven by elevated crude oil prices, have reduced safe-haven demand for precious metals by lowering expectations of near-term interest rate cuts by the Federal Reserve.