Silver rate today: Silver, platinum and palladium see sharper declines

The weakness in precious metals extended well beyond gold, with silver and platinum group metals posting even steeper losses. Spot silver dropped 3.6% to $55.68 per ounce, while platinum fell 3.1% and palladium declined 4.1%. The broad-based sell-off reflected growing concerns that higher interest rates and a stronger dollar could weigh on demand across the precious metals complex.

Investors reduced exposure not only to gold but also to other metals as market sentiment shifted towards interest-bearing assets. The move highlighted how macroeconomic developments can influence the entire precious metals basket rather than affecting gold alone.