Monday'meltdown'for'bullion'futures,'Silver'down'around'12%

Precious'metals'tanked'today.'Silver'futures'plunged'more'than'12%'toward'$61'per'ounce'on'Monday,'following'carnage'in'the'stock'markets'as'the'Middle'East'war'enters'fourth'week'of'conflict.'MCX'May'silver'futures'plunged'to'the'lows'of'Rs'209816'per'kg,'its'lowest'level'in'last'3'months,'whereas'its'sister'metal,'gold'also'tripped'by'7%'at'Rs'134369'per'10'grams.'President'Donald'Trump'issued'a'48-hour'ultimatum'demanding'Iran'reopen'the'key'waterway,'while'Tehran'threatened'to'shut'it'entirely'and'target'regional'energy'assets'in'retaliation,'raising'fears'over'disruptions'in'a'route'that'carries'nearly'one-fifth'of'global'oil'and'LNG'flows.'Last'week,'silver'declined'over'15%'as'surging'oil'prices'fueled'inflation'concerns,'prompting'markets'to'price'in'a'prolonged'pause'or'potential'rate'hikes'from'major'central'banks.'A'firm'U.S.'dollar,'supported'by'steady'rates'and'strong'inflation'data,'further'weighed'on'silver'and'gold'by'raising'its'opportunity'cost.'With'traders'now'pricing'in'a'potential'rate'hike'and'geopolitical'risks'intensifying,'gold'remains'under'sustained'pressure'despite'its'safe-haven'status.

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