On April 13, silver prices experienced a significant decline of 2.5%, settling at ₹2,37,190 per kg, influenced by a stronger U.S. dollar and rising oil prices. Spot silver also fell 2.2% to $74.23 per ounce, reflecting a broader weakness in precious metals. The increase in oil prices, which reached around $104 per barrel, was triggered by heightened geopolitical tensions following failed U.S.-Iran peace talks. This situation has raised inflation concerns and altered market expectations regarding U.S. Federal Reserve interest rate cuts, which traders now believe are unlikely this year. A stronger dollar, which rose 0.4%, makes dollar-denominated metals more expensive for holders of other currencies, further dampening demand. As inflation typically supports safe-haven demand for precious metals, the current environment of high interest rates is counteracting this effect.