MCX July silver futures slide Rs 8,817 to Rs 2,42,990/kg as Fed stance and strong dollar weigh

India’s MCX July silver futures fell Rs 8,817 per kilogram to Rs 2,42,990 per kilogram, a 3.5% drop in the session. In New York, Comex July silver futures declined 3.34% to USD 68.40 per ounce. Selling followed signals that the US Federal Reserve could keep rates higher for longer and may still hike later this year, strengthening the “higher for longer” view. A stronger dollar further pressured dollar-priced precious metals by making them costlier for buyers using other currencies.