Silver and Gold Prices Crash to Multi-Month Lows Amid Middle East Tensions

Silver prices on the MCX for the December delivery contract plunged by ₹8,593 to ₹2,00,575 per kilogram, hitting a seven-month low on Thursday.

Gold prices also declined, with MCX gold falling ₹2,300 to ₹1,43,600 per 10 grams, marking its lowest level in two months.

The precious metals selloff coincided with rising crude oil prices and strengthening expectations of further US Federal Reserve interest rate hikes.