<p>New Delhi: Silver prices surged Rs 12,861 to Rs 2.36 lakh per kilogram in futures trade on Wednesday tracking a weak US dollar and easing inflation fears following a correction in crude.</p>.<p>Ending a 10-day rout, the white metal for May delivery soared Rs 12,861, or nearly 6 per cent, to Rs 2,36,802 per kilogram on the Multi Commodity Exchange.</p>.<p>Analysts said the sharp rebound in silver was largely driven by a bullish sentiment in precious metals in the overseas markets and a weak US dollar.</p>.<p>"Silver's sharp rebound on Wednesday were driven by a softer US dollar and easing inflation concerns as crude oil prices corrected," Hareesh V, Head of Commodity Research, Geojit Investments Ltd, said.</p>.Silver futures slide Rs 9,467 to Rs 2.15 lakh per kg; extends 10-day rout amid volatility.<p>He added that the pullback in energy markets helped temper expectations of higher global interest rates, offering additional support to precious metals.</p>.<p>In the international market, silver futures for the May contract increased by USD 3.87, or 5.56 per cent, to USD 73.44 per ounce.</p>.<p>Silver prices opened higher globally by more than 3 per cent as the dollar index eased following reports that the US is seeking a one-month ceasefire with Iran to conduct negotiation talks, Aamir Makda, Commodity & Currency Analyst, Choice Broking, said.</p>.<p>Despite troop deployments, easing conflict fears, and a higher-for-longer interest rate signal from Federal Reserve Governor Michael Barr supported market sentiment, he added.</p>.<p>Hareesh further said the precious metal's upside was also driven by value buying after recent sharp corrections, with attractive entry levels triggering renewed demand alongside short covering.</p>.<p>On the outlook, he said the precious metal may witness a mild near-term recovery, but breaking recent highs looks difficult.</p>.<p>"While supportive geopolitics could underpin sentiment, a firm US dollar is likely to cap strong upside, keeping price movements relatively restrained for now," Hareesh said. </p>
<p>New Delhi: Silver prices surged Rs 12,861 to Rs 2.36 lakh per kilogram in futures trade on Wednesday tracking a weak US dollar and easing inflation fears following a correction in crude.</p>.<p>Ending a 10-day rout, the white metal for May delivery soared Rs 12,861, or nearly 6 per cent, to Rs 2,36,802 per kilogram on the Multi Commodity Exchange.</p>.<p>Analysts said the sharp rebound in silver was largely driven by a bullish sentiment in precious metals in the overseas markets and a weak US dollar.</p>.<p>"Silver's sharp rebound on Wednesday were driven by a softer US dollar and easing inflation concerns as crude oil prices corrected," Hareesh V, Head of Commodity Research, Geojit Investments Ltd, said.</p>.Silver futures slide Rs 9,467 to Rs 2.15 lakh per kg; extends 10-day rout amid volatility.<p>He added that the pullback in energy markets helped temper expectations of higher global interest rates, offering additional support to precious metals.</p>.<p>In the international market, silver futures for the May contract increased by USD 3.87, or 5.56 per cent, to USD 73.44 per ounce.</p>.<p>Silver prices opened higher globally by more than 3 per cent as the dollar index eased following reports that the US is seeking a one-month ceasefire with Iran to conduct negotiation talks, Aamir Makda, Commodity & Currency Analyst, Choice Broking, said.</p>.<p>Despite troop deployments, easing conflict fears, and a higher-for-longer interest rate signal from Federal Reserve Governor Michael Barr supported market sentiment, he added.</p>.<p>Hareesh further said the precious metal's upside was also driven by value buying after recent sharp corrections, with attractive entry levels triggering renewed demand alongside short covering.</p>.<p>On the outlook, he said the precious metal may witness a mild near-term recovery, but breaking recent highs looks difficult.</p>.<p>"While supportive geopolitics could underpin sentiment, a firm US dollar is likely to cap strong upside, keeping price movements relatively restrained for now," Hareesh said. </p>