Silver Jumps 2% to ₹2,49,423/kg as Dollar Weakens After US Extends Iran Ceasefire

Silver prices in India rose sharply on 22 April, ending a 2-day decline.

• MCX silver jumped over ₹4,800 (2%) to ₹2,49,423 per kg
• MCX gold also gained 1.3% to ₹1,53,699 per 10 grams

Globally, spot silver increased 1.5% to $77.84 per ounce, tracking gains in gold and other precious metals.

Key Reason Behind the Rally

The main trigger was the decision by Donald Trump to extend the Iran ceasefire. This eased fears of rising inflation and aggressive interest rate hikes, which supported precious metals.

Dollar Weakness Boosts Precious Metals

The US dollar slipped after the ceasefire announcement. A weaker dollar makes silver cheaper for global buyers, which increases demand and supports prices.

Impact of Crude Oil Prices

Cooling crude oil prices also helped silver. Lower oil prices reduce inflation worries and decrease the chances of prolonged high interest rates, both of which are positive for precious metals.

However, risks remain as Iran has not confirmed the ceasefire and the Strait of Hormuz remains closed, keeping oil supply concerns alive.

Global Precious Metals Trend

Other metals also moved higher:

• Gold rose about 0.9% globally
• Platinum gained 1.5%
• Palladium climbed 1.8%

Read More: India’s Gold Imports Hit Record USD 71.98 Billion in FY26 Amid Price Surge.

Interest Rate Outlook

US Federal Reserve Chair nominee Kevin Warsh said he has made no promises to cut interest rates, reinforcing a data-driven approach to monetary policy.

Conclusion

Silver prices bounced back as the weaker dollar, easing oil prices, and reduced geopolitical tensions improved investor sentiment. However, ongoing global uncertainties continue to support demand for safe-haven metals.

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