Silver Prices Rebound Nearly 1% to ₹2.58 Lakh/kg, Snap Four-Day Losing Streak
Safe-Haven Demand Drives Silver Futures Higher Amid West Asia Tensions
New Delhi, March 17: Silver prices rebounded in futures trading on Tuesday, rising by ₹2,168 to ₹2.58 lakh per kilogram, marking the end of a four-day losing streak. The recovery was supported by renewed safe-haven demand as geopolitical tensions in West Asia continued to influence global markets.On the Multi Commodity Exchange (MCX), silver contracts for May delivery climbed ₹2,168, or nearly 1%, to ₹2,58,700 per kg, with a trading volume of 5,995 lots.
Intraday Volatility Pushes Silver to ₹2.62 Lakh/kg High
Silver witnessed sharp intraday volatility during the session. Prices surged as much as ₹6,367, or 2.5%, touching a high of ₹2,62,899 per kilogram before moderating.The rebound reflects heightened investor interest in safe-haven assets amid uncertainty surrounding global energy supply routes and escalating tensions in the Middle East region.
Global Trends Support Silver Price Recovery
In the international market, silver futures for May delivery on the Comex in New York rose by 0.68% to $81.23 per ounce, also snapping a four-session decline.Silver regained the $80 per ounce mark globally, indicating a revival in safe-haven demand following a recent correction phase.
Oil Price Movement and Policy Signals Influence Market Sentiment
Market sentiment remained sensitive to developments around crude oil supply. Oil prices eased earlier in the week after reports of safe passage for several tankers through the Strait of Hormuz, helping reduce immediate supply concerns.At the same time, signals from the United States suggested continued crude shipments through the route, while efforts are underway to maintain stability in commercial shipping activity in the region.
Focus Shifts to US Federal Reserve Policy Outlook
Investor attention is now turning toward the upcoming US Federal Reserve policy decision. Expectations of a rate hold are shaping sentiment as policymakers assess uncertainties linked to the ongoing geopolitical situation.Supply Deficit and Industrial Demand Provide Additional Support
Beyond geopolitical factors, silver prices continue to find support from structural fundamentals. A projected supply deficit of 67 million ounces for 2026, coupled with sustained industrial demand, particularly from the electronics sector, is reinforcing the metal’s upward momentum.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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