New Delhi, May 27 -- Silver prices were flat on Wednesday, 27 May as investors awaited comments on developments around the US-Iran peace deal as well as cues on the US Fed monetary policy. However, gains were capped as a stronger US dollar, rising crude oil prices and escalating tensions in the Persian Gulf dampened investor sentiment and reinforced fears that inflation could remain elevated for longer, potentially forcing central banks to keep interest rates high.

In India, MCX silver was steady, up 0.7% to Rs.2,72,628 per kg, while MCX Gold price was also flat at Rs.1,57,898 per 10 grams.

The precious metals market continued to react to developments in the Middle East after US and Iranian forces reportedly clashed near the Strait of H...