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Weekly Silver Review: MCX Silver Tests Lows Under Rs 61000 Per Kg

Weekly Silver Review: MCX Silver Tests Lows Under Rs 61000 Per Kg

January 29, 2022 1:05 IST | capital market
COMEX Silver futures crashed as a slide from recent two month high near $25 per ounce continued amid heavy selloff in global equities in first half of week gone by. Sustained losses for Gold also weighed on the white metal. Silver had edged up earlier in the month as signs of a strong recovery in Indian demand boosted the metal. However, the US interest rate hike expectations and a concomitant rise in the US treasury yields are capping the precious metals. The COMEX Silver futures tested a three week lows near $22.20 per ounce before witnessing some buying and closed around $22.50 per ounce. MCX Silver futures also followed similar trajectory and fell under Rs 61000 per kg mark in intraday moves.

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