Silver rate today: Silver price traded marginally lower on Friday, April 10, amid a stronger dollar, although improving geopolitical sentiment and easing inflation fears capped downside for the precious metal. Gold prices also eased marginally in early morning trade on the Multi Commodity Exchange (MCX).
In International markets, spot silver edged up 0.1% to $75.11 per ounce, while spot gold fell 0.2% to $4,755.84 per ounce as of 0055 GMT, even as it remained on track for a third straight weekly gain, rising 1.8% so far this week. US gold futures for June delivery declined 0.8% to $4,779.20.
Among other precious metals, platinum dropped 1.2% to $2,077.67, while palladium declined 1.1% to $1,540.03.
Dollar strength dents silver, gold
The dollar index strengthened during the session, making dollar-denominated bullion more expensive for holders of other currencies and weighing on gold prices in the near term. For the week, the gauge of the dollar has fallen 1.3%, supporting bullion.
However, broader macro signals remained supportive. US President Donald Trump’s announcement of a ceasefire in the six-week-long Iran conflict earlier this week reduced fears of prolonged supply disruptions and tempered inflation expectations.
Still, geopolitical risks have not completely dissipated. Israeli Prime Minister Benjamin Netanyahu said he is seeking direct talks with Beirut following heavy bombardment in Lebanon that reportedly killed more than 300 people. The escalation briefly threatened the stability of the US-Iran ceasefire, keeping markets on edge.
Meanwhile, crude oil prices added another layer to the narrative. Brent crude has fallen more than 11% this week amid optimism that the Strait of Hormuz—responsible for roughly 20% of global oil trade—could see smoother operations if the ceasefire holds. Lower oil prices have helped ease inflation concerns, indirectly influencing expectations around U.S. monetary policy.
On the data front, the US Personal Consumption Expenditures (PCE) index—the Federal Reserve’s preferred inflation gauge—rose 2.8% year-on-year in February, in line with estimates, and is expected to have ticked higher in March. Investors are now closely watching the upcoming U.S. Consumer Price Index (CPI) data for further direction.
Market expectations for rate cuts have also shifted. Traders are currently pricing in a 31% probability of at least a 25 basis point rate cut by the Federal Reserve in December, up from 21% in the previous session, according to CME’s FedWatch Tool.
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