Mumbai, June 23 -- Silver futures plunged nearly 5% to trade below $63 an ounce on Tuesday, extending recent losses as a stronger US dollar and growing expectations of Federal Reserve rate hikes dampened investor sentiment. MCX July silver futures also fell more than 3%, slipping below Rs.227,000 per kg. The dollar index hovered near 101, its highest level since May 2025, supported by hawkish Fed expectations and signs of progress in US-Iran peace talks. Adding to the pressure, both Deutsche Bank and BofA Global Research now expect a Fed rate hike in September. Meanwhile, Washington's decision to grant Tehran a 60-day license to sell oil internationally has raised expectations of increased global supply. Investors now await this week's US P...