Silver rate today: Silver prices held largely steady on Tuesday, as investors remained on edge after fresh tensions between the US and Iran escalated in the Middle East. Meanwhile, markets also weighed signals from the US Federal Reserve indicating a steady interest rate stance for now.
In India, MCX silver rate was steady at ₹2,43,927 per kg while MCX gold rate was also muted, up 0.4% at ₹1,49,950 per 10 grams.
In the international markets as well, Spot silver inched up 0.1% to $72.76 per ounce, reflecting a cautious undertone in the market. Gold, often a directional cue for silver, also edged 0.2% higher to $4,528.99 per ounce after falling more than 2% in the previous session to its lowest level since March-end. US gold futures for June delivery were also marginally higher at $4,538.20, indicating a stabilisation in broader bullion sentiment.
Other precious metals also saw mild gains, with platinum rising 0.5% to $1,954.80 and palladium advancing 0.8% to $1,491.84.
What’s impacting gold, silver prices?
The key driver remains escalating tensions between the US and Iran, particularly around the strategically critical Strait of Hormuz. Fresh military action has rattled markets, with both sides engaging in naval and aerial confrontations, raising concerns over global oil supply disruptions and broader economic uncertainty.
Reports indicated that US forces destroyed multiple Iranian vessels and intercepted missiles and drones, while Iran attempted to disrupt shipping routes. The situation has kept safe-haven demand for precious metals like silver intact, though not strong enough to trigger a sharp rally.
At the same time, crude oil prices showed volatility, with US crude slipping over 1% as markets assessed the real impact of the conflict alongside reports of continued shipping activity through the strait under military protection. Since silver has both industrial and investment demand, fluctuations in oil and global trade expectations tend to influence its trajectory.
On the monetary policy front, commentary from New York Federal Reserve President John Williams suggested that current policy settings are adequate to navigate uncertainty. He indicated that once inflation pressures ease, the central bank could shift focus back toward rate cuts.
However, political pressure continues to build, with US President Donald Trump reiterating his call for lower interest rates. This divergence between policy stance and political messaging has added another layer of uncertainty for bullion markets.
Overall, silver is currently caught between competing forces—geopolitical risk offering support, and a relatively firm interest rate outlook limiting upside. Until there is more clarity on either front, prices are likely to remain range-bound with a mild upward bias.
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