Silver futures plummeted ₹9,031 to ₹2.39 lakh per kilogram on Thursday, extending losses to a seventh consecutive session amid rising crude oil prices and hawkish Federal Reserve signals. The decline reflects persistent inflation concerns that have dampened safe-haven demand for precious metals. Globally, May contract silver on Comex fell 6.31 percent to $72.69 per ounce. Analysts attribute the weakness to elevated crude oil prices, which have reduced expectations for near-term US interest rate cuts. The firm US dollar also pressured bullion prices, outweighing safe-haven demand from geopolitical tensions in West Asia. The Federal Reserve's cautious stance on monetary easing, signaling no rate cuts until inflation moderates, continues to weigh on precious metals valuations across international markets.
