Silver Drops Rs 700/kg on Mideast Tensions After TD Upgrade

MCX July 2026 silver futures fell Rs 700/kg to Rs 2,66,011 amid escalating Middle East tensions and higher oil prices that raised inflation concerns. The pullback follows TD Securities’ upgrade on 2 June citing structural supply deficits through 2026 and recovering industrial demand from solar and electronics. Spot silver slipped 0.5% to $74.73/oz while gold eased modestly, with analysts noting near-term correction risk but framing dips as potential buying opportunities given gold’s strength and central-bank buying.