Silver Futures Slip ₹213 to ₹2.52 Lakh Per Kg On Weak Global Cues

Silver prices edged lower by ₹213 to ₹2.52 lakh per kilogram in futures trade on Wednesday, tracking muted global trends and cautious investor sentiment ahead of key monetary policy decisions. 

On the Multi Commodity Exchange, the white metal for May delivery slipped by ₹213, or 0.08 %, to ₹2,52,900 per kg in a business turnover of 5,857 lots. 

Analysts said silver prices remained under pressure as traders refrained from taking fresh positions ahead of the US Federal Reserve's monetary policy outcome later in the day. 

Globally, silver futures for the May contract depreciated by 0.30 % to $79.68 per ounce. 

"Silver traded near $79 per ounce, holding losses from the previous session as investors awaited the latest US Federal Reserve policy decision while assessing inflation risks from the Iran conflict," Jigar Trivedi, Senior Research Analyst at IndusInd Securities. 

He added that the US Federal Reserve is widely expected to keep interest rates unchanged, with traders focused on guidance from Chair Jerome Powell on how oil market volatility could influence future policy. 

"Rising oil prices have heightened inflation concerns, with markets largely ruling out a near-term Fed rate cut and pricing in only a single reduction this year," Trivedi said. 

Meanwhile, tensions in West Asia continued to influence the market sentiment, with Iran stepping up attacks on energy infrastructure in the region, raising fears of supply disruptions. 

At the same time, geopolitical uncertainties persisted as efforts to secure shipping through the Strait of Hormuz remained inconclusive despite calls from US President Donald Trump for international support. 

However, the limited safe passage of some vessels has offered partial relief to markets, helping contain sharp declines in prices.