Silver shines again after 10-day slump: Know today's rates
Business
Silver just made a comeback after 10 days of falling prices.
On Wednesday, May futures on the MCX shot up by ₹12,861 to ₹2,36,802 for May delivery, nearly 6%.
This bounce is thanks to a weaker US dollar and lower crude oil prices, which have eased some inflation worries.
Geopolitical factors and dollar strength could influence silver prices
Globally, silver futures also climbed by about 5.6% to $73.44 an ounce, boosted by fresh demand and some short covering.
Geopolitical tensions, like the US pushing for a ceasefire with Iran, are playing a part too.
Still, as Hareesh V from Geojit Investments points out, if the US dollar stays strong, it could keep silver from climbing much higher despite these supportive factors.