Hot Commodities: Silver Crashes, MCX Futures Tank Under Rs 63K

27 Jan 2022 , 01:03 PM

COMEX Silver futures crashed today as a slide from recent two month high near $25 per ounce continued amid heavy selloff in global equities. Sustained losses for Gold also weighed on the white metal. Silver has edged up earlier in the month as signs of a strong recovery in Indian demand boosted the metal. However, a frantic drop in global equities owing to the US interest rate hike expectations and a concomitant rise in the US treasury yields are capping the precious metals. The COMEX Silver futures are currently trading down 2.53% at $23.21 per ounce. MCX Silver futures are trading at Rs 62950 per kg, down 1.75% on the day after testing lows near Rs 62700 per kg mark.

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