Silver prices faced downward pressure on August 15, alongside gold, amid escalating geopolitical uncertainty. The primary catalyst was a statement from U.S. Treasury Secretary Scott Bessent, who warned of “never-before-seen” economic measures against Iran, amplifying concerns surrounding the ongoing conflict.
This hawkish stance from the U.S. added to global economic uncertainty and influenced trading in the precious metals markets. On the Multi Commodity Exchange (MCX), September silver futures contracts reacted to the news, falling as much as 1.27% during the trading session to an intraday low of Rs 2,32,454.