MUMBAI, Aug. 29 -- Indian silver buyers, traders and small jewellers who spent August watching the metal's sharpest rally in years woke Friday to a reversal. Spot silver tumbled to $66.25 per troy ounce in early New York trading, down $2.88 or 4.17% from Thursday's close of $69.13, as Federal Reserve Chair Kevin Warsh's hawkish address at the Jackson Hole symposium overnight revived expectations of a September rate hike, driving the dollar higher and pushing silver to its steepest single-session loss in three months.

For India's bullion markets, the international correction translated into a more muted move in rupee terms. Silver of 999 purity was trading at Rs.2,54,900 per kilogram on August 29, 2026, across major cities including Mumba...