Silver price plunged by ₹5,354 to ₹2.62 lakh per kg in the futures trade on Friday (March 13, 2026) as rising crude oil prices and persistent inflationary concerns weighed on the investor sentiment.

On the Multi Commodity Exchange, the white metal for May delivery slumped by ₹5,354, or 2%, to ₹2,62,608 per kg in a business turnover of 5,900 lots.

Analysts said silver prices came under pressure amid a strong U.S. dollar and volatility in the global commodities market.

Silver prices declined as rising crude oil prices and strong inflation concerns in the U.S. overshadowed its safe-haven appeal, Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.

He added that the high inflationary risks have faded hopes for the interest rate cuts by the U.S. Federal Reserve.

In the international market, silver futures on the Comex for the May contract slipped $2.21, or nearly 3%, to $82.89 per ounce.

Silver was trading around $85 per ounce after sliding for two straight sessions, but remained on track to end the week largely unchanged as the dollar strengthened amid West Asia uncertainties and surging oil prices, Jigar Trivedi, Senior Research Analyst at IndusInd Securities, said.

Meanwhile, defiant rhetoric from leaders in Tehran and Washington indicated that the Iran war remains far from de-escalation after nearly two weeks of fighting, keeping investors cautious.

“Investors are now awaiting January’s Personal Consumption Expenditures (PCE) price index, the Fed’s preferred inflation gauge, for updated insights on price trends, though it will not reflect the impact of the Iran war,” Mr. Trivedi added.