Silver is down by 5.45%

Silver plummeted over 10% toward $65 per ounce on Thursday, its lowest since mid-December, as the precious metals rout deepened amid Iran war-driven volatility and hawkish central bank shifts. Investors recalibrated expectations after major banks held rates firm, citing inflation risks and geopolitical uncertainty. The US Federal Reserve kept rates unchanged, warning of economic fallout from the Iran conflict and sticky inflation, with Chair Jerome Powell leaving the door open to a hike. Japan’s BoJ Governor Kazuo Ueda teased a possible April rate increase, while the Bank of England unanimously held rates but turned unexpectedly hawkish. Markets now push Fed easing to 2027 and price in two BoE hikes this year, weighing heavily on silver’s outlook.

Silver dropped below $74 per ounce on Thursday, sinking to one-month lows as hawkish signals from the US Federal Reserve and surging oil prices weighed on precious metals. The US central bank held its policy rate steady on Wednesday as expected, while flagging upside risks to inflation from the Iran war. The Fed indicated it will not cut rates until inflation shows signs of easing, though it still projects one rate reduction this year. Data on Wednesday also showed US producer prices rose more than expected in February. Meanwhile, oil prices climbed again, with Brent futures exceeding $110 a barrel following fresh attacks on energy infrastructure in the Middle East. Iran launched missile strikes on a Qatari facility housing the world’s largest LNG export plant, one of several targets Tehran vowed to hit after an Israeli strike on Iran’s South Pars gas field.

Silver decreased 5.45% to 74.993 USD/t.oz