India, June 19 -- Silver futures plunged 4 per cent, extending recent losses as uncertainty surrounding the US-Iran peace process and weakness in global commodity markets weighed heavily on investor sentiment.

On the Multi Commodity Exchange (MCX), silver contracts for July delivery fell by Rs.8,766, or 4 per cent, to Rs.2,28,806 per kilogram. The decline follows a sharp correction in the previous trading session when the white metal dropped nearly 5.7 per cent.

Market analysts attributed the selloff to fading optimism over the implementation of the US-Iran peace agreement after planned high-level talks in Switzerland were postponed. The delay has raised concerns about the timeline for restoring stability in the region and resuming norm...