Silver rate todayAI Quick ReadSilver rate today declined nearly 6% on Thursday, April 2, after U.S. President Donald Trump’s much-anticipated address failed to offer any reassurance on a possible de-escalation of the Middle East war, dampening sentiment across precious metals.
Trump said the United States would continue its military campaign in Iran over the next few weeks, signalling that geopolitical tensions were likely to remain elevated. His remarks triggered sharp moves across commodities and financial markets, with investors reacting to the prospect of prolonged conflict.
On MCX, silver price fell 5.6% or ₹13,613 to ₹2,29,888 per kg, while Gold price on MCX declined 1.65% or ₹2,547 to ₹1,51,161 per 10 grams.
In international markets, spot silver fell 2.9% to $72.95. Gold also traded lower, with spot gold down 1.3% at $4,694.48 per ounce as of 0202 GMT, while U.S. gold futures slipped 1.9% to $4,723.70. Earlier in the session, gold prices had risen more than 1% and touched their highest levels since March 19 before reversing course after Trump’s speech.
Other precious metals also came under pressure. Platinum dropped 1.8% to $1,928.26, while palladium declined 1.4% to $1,451.85.
In his televised address, Trump said the U.S. would strike Iran “extremely hard” over the next two to three weeks and push it back into the “Stone Ages.” He also said Washington’s strategic objectives in the conflict were close to being fulfilled, though the speech offered little indication of an immediate end to hostilities.
Following the address, Brent crude oil prices surged more than 4%, while the 10-year U.S. Treasury yield and the dollar index also moved higher. The stronger dollar and rising bond yields weighed on greenback-priced metals, making them less attractive for investors.
While gold and silver are often considered safe-haven assets during periods of geopolitical instability and inflation, higher interest rates tend to cap gains in bullion by raising the opportunity cost of holding non-yielding assets.
Market expectations around U.S. monetary policy also remained unsupportive for precious metals. Investors continued to price in limited chances of a Federal Reserve rate cut through most of 2026, with only a modest 25% probability of a cut seen at the December policy meeting.
Adding to the cautious outlook, St. Louis Federal Reserve President Alberto Musalem said on Wednesday that there was no immediate need for the U.S. central bank to alter its current interest rate stance, as inflation risks remained elevated.
That combination of geopolitical uncertainty, rising oil prices, a stronger dollar, and sticky rate expectations kept pressure on bullion and silver prices despite safe-haven demand staying broadly intact.
Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience.
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Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism.
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Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends.
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