New Delhi, May 15 -- Silver prices in India witnessed sharp selling pressure on Friday as a stronger US dollar, rising Treasury yields and mounting inflation concerns weighed on sentiment in the precious metals market. Investors also remained cautious ahead of the meeting between US President Donald Trump and Chinese President Xi Jinping later in the day. Gold was also under pressure.

Selling intensified across bullion counters, with MCX silver prices plunging Rs.11,644, or 4%, to Rs.2,79,458 per kg. Gold prices also fell, as MCX gold fell Rs.1,623, or 1%, to Rs.1,60,355 per 10 grams.

In the global market, both gold and silver prices moved lower amid fading hopes of near-term US Federal Reserve rate cuts following stronger-than-expected...