New Delhi, May 21 -- Silver prices in India were muted but in the red on Thursday, 21 May, as optimism regarding easing geopolitical tensions in the Middle East offset lingering concerns over inflation and the possibility of higher-for-longer global interest rates.

On MCX, Silver rates slipped 0.8% to Rs.2,72,135 per kg, while MCX gold price was flat at Rs.1,59,706 per 10 grams.

Moreover, softer U.S. Treasury yields, lower oil prices and a weaker dollar helped limit downside pressure on precious metals. Market participants also assessed the latest Federal Reserve meeting minutes, which indicated policymakers remained cautious on inflation and saw little urgency to cut interest rates amid a resilient U.S. labour market.

In the internati...