Silver prices declined in futures trade on Thursday, weighed down by weak international market cues and growing concerns that elevated crude oil prices could keep global interest rates higher for a longer period.
On the Multi Commodity Exchange (MCX), silver contracts for July delivery fell by Rs 621, or 0.24%, to Rs 2,62,337 per kilogram, with a trading volume of 11,830 lots.
Market analysts noted that ongoing geopolitical tensions in West Asia have kept energy markets volatile, raising concerns about inflationary pressures. This has led investors to reassess expectations for monetary policy easing by major central banks, putting pressure on silver prices.