Silver Price Drops 2% on MCX: Investors Weigh Options Amid Market Volatility

Silver and Gold Prices Decline Amid US-Iran Tensions and Uncertainty

MCX Silver Rate Falls 2% to ₹2,62,892.00

The MCX silver rate declined by 2% on February 26, reaching ₹2,62,892.00, while the MCX Gold price lost 0.4% to ₹1,60,516 per 10 grams. The decline in silver prices can be attributed to the easing of uncertainty over US tariff policy and ongoing US-Iran negotiations.

International Market Trends

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In international markets, Spot silver shed 0.6% to $88.84 an ounce, while Spot gold pushed closer to the $5,200 level, extending gains after climbing nearly 6% over the past six sessions. Spot gold was up 0.3% at $5,183.85 an ounce, while US gold futures for April delivery eased 0.5% to $5,200.50.

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.

Market Outlook

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Investors are focused on weekly jobless claims data, which could offer further clues on the Federal Reserve's monetary policy outlook. The data is expected to be released later in the day and may influence market trends in the coming sessions.