Silver prices remained under pressure, with COMEX silver trading below $56 an ounce and MCX silver near Rs 2,15,472, as escalating Middle East tensions lifted crude oil prices and reinforced inflation concerns.
Although softer-than-expected US inflation data has reduced expectations of a July Federal Reserve rate hike, policymakers continue to signal a commitment to price stability, keeping markets cautious over a possible September move.
Meanwhile, COMEX silver inventories recovered to 95.5 million ounces by mid-July but remained well below 2025 highs, indicating supply is improving but still tight. India’s silver import bill fell 42.7% year-on-year in the April–June quarter, reflecting weaker domestic demand, said Pinky Yadav, Commodity Fundamental Analyst at Choice Broking.
