Silver futures gave up early gains and traded lower on Tuesday as escalating US-Iran tensions and caution ahead of key US inflation data weighed on investor sentiment.
On the Multi Commodity Exchange of India (MCX), silver contracts for July delivery declined by Rs 1,346, or 0.48%, to Rs 2,76,965 per kg in a business turnover of 7,451 lots.
Traders said bullion markets turned volatile after Donald Trump rejected Tehran’s latest counter-proposal to Washington’s peace framework, reviving concerns that efforts to resolve the conflict could face further delays.