Silver surges 6.2% to $67.22 on safe-haven bids amid Iran tensions

Silver rebounded sharply on June 11, climbing 6.2% to $67.22/oz as traders bought on persistent U.S.-Iran geopolitical risks despite signs of possible de-escalation. The rally follows a steep three-day selloff that took spot silver to $63.86 after hitting lows near $64.46 on June 9, driven by hotter U.S. CPI at 4.2% and rising odds of Federal Reserve rate hikes. MCX July futures crashed Rs 5,012 to Rs 2,30,492/kg while gold also came under pressure before partial recovery. Despite the latest bounce, silver remains down 19.3% for the month and well below its January peak above $120.