Silver rate today declined on MCX as lingering uncertainty over US tariff policy and ongoing US-Iran negotiations eased. Iran and the US were scheduled to hold another round of talks in Geneva today, aimed at resolving their long-running nuclear dispute and preventing fresh US strikes on Iran following a significant military buildup in the region.
On Thursday, February 26, MCX silver rate fell 2% to ₹2,62,892.00 while MCx Gold lost 0.4% to ₹1,60,516 per 10 grams.
In international markets as well, Spot silver shed 0.6% to $88.84 an ounce after rising to a three-week high in the previous session.
Meanwhile, Gold prices pushed closer to the $5,200 level, extending gains after climbing nearly 6% over the past six sessions, as the buildup of US troops in the Middle East kept global markets on edge. Spot gold was up 0.3% at $5,183.85 an ounce as of 0258 GMT, after touching a more than three-week high on Tuesday. US gold futures for April delivery eased 0.5% to $5,200.50.
Among other precious metals, spot platinum declined 0.5% to $2,274.16 an ounce, while palladium slid 1.4% to $1,770.05. Both metals had reached three-week highs in the previous session.
Investors were also focused on weekly jobless claims data due later in the day, which could offer further clues on the Federal Reserve’s monetary policy outlook.
