Silver price in India declines over 2% amid Fed rate uncertainty and Middle East tensions; US inflation data awaited
Silver rate today, June 11 -- Silver prices in India extended losses on Thursday, 11 June as markets grappled with rising inflation concerns, geopolitical tensions and expectations of higher US interest rates. Meanwhile, investors awaited a key US inflation report that could provide fresh signals on the Federal Reserve's interest rate trajectory.
MCX Silver rate fell over 2% to Rs.2,30,493 per kg while MCX Gold price declined 1% to Rs.1,46,444 per 10 grams.
However, globally, the precious metals rebounded. Spot silver rose 0.3% to $63.86 per ounce. Gold also witnessed a modest rebound. Spot gold rose 0.4% to $4,089.12 per ounce by 0215 GMT after earlier falling to $4,022.09, its lowest level since November 21. Meanwhile, US gold futures...
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