Silver extends slide, melts 19% this month

Silver futures added to recent spate of correction as metals stayed under pressure amid a very firm undertone in the US dollar. COMEX Silver has edged near $60 per ounce, testing lowest in around six-months. The metal currently trades down 1% at $61.46 an ounce. MCX July silver futures are down 0.43% at Rs 224870 per kg. The dollar index stayed above 101, its highest level since May 2025, supported by hawkish Fed expectations and signs of progress in US-Iran peace talks. Silver has lost around 19% so far this month.

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