Silver prices fell to $71.83 per ounce on April 8, 2026, following the announcement of a US-Iran ceasefire agreement, while domestic rates in India remained stable near ₹2.50 lakh per kilogram. Analysts attribute the decline to reduced safe-haven demand as geopolitical risks eased.
The ceasefire, brokered by the United Nations, marks a significant de-escalation after months of heightened tensions in the Middle East. “Commodity markets are reacting to the reduced risk premium,” said a metals analyst at a leading brokerage firm, speaking on condition of anonymity.
Domestic Indian prices showed resilience despite the international dip, with city-wise variations remaining within a narrow band. Mumbai reported rates of ₹2,51,200/kg while Delhi markets traded at ₹2,49,800/kg. Market watchers note that local demand during the wedding season is providing support to domestic prices.
Looking ahead, traders will monitor Federal Reserve policy signals for further direction, as interest rate decisions continue to influence precious metal valuations globally.