India, June 15 -- Silver prices witnessed a sharp rally on Monday, gaining more than Rs 6,000 per kilogram in futures trade as easing geopolitical tensions in West Asia and weakness in the US dollar boosted sentiment in the precious metals market.
On the Multi Commodity Exchange of India, silver contracts for July delivery surged Rs 6,066, or 2.46 per cent, to Rs 2,52,252 per kg, with a trading volume of 11,420 lots.
The rally followed improved market sentiment after the United States and Iran reached a peace agreement, reducing geopolitical uncertainty and supporting broader commodity markets. A softer US dollar also added to the attractiveness of precious metals for investors.
The sharp rebound comes after silver prices had declined by...