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The Economic Times

Business

Kumar Gaurav

Silver futures plunge 4% on MCX ahead of US CPI; rising oil adds pressure

MCX silver Oil United States Inflation

Silver prices plunged on Wednesday, October 14, as rising crude oil prices and caution ahead of key US inflation data weighed on sentiment. Investors awaited the US Consumer Price Index (CPI) report for clues about the Federal Reserve’s next interest-rate decision.

On the Multi Commodity Exchange (MCX), December silver futures traded 3.68% lower at Rs 2,11,143 per kg at the last check. The contract touched an intraday low of Rs 2,10,817 per kg, compared with its previous close of Rs 2,19,217.

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