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Silver opened at Rs 74,487 per kg and hit an intraday low of Rs 74,359 on the MCX. In the international market, the price hovered around $24.45 per ounce.
Gold prices were affected chiefly by fears of higher-for-longer US interest rates after inflation was higher than expected in February
Analysts say apart from the dilemma over interest rates, geopolitical tensions in the Middle East are providing a strong floor for bullion
The CME Fedwatch tool shows traders are pricing in an 83% chance of the Fed keeping rates steady in March
Analysts say bullion is trading near an important support zone, according to the daily chart