MCX Silver Futures Almost Test Rs 60K

7 Jan 2022 , 02:18 PM

COMEX Silver futures are witnessing a sustained selloff today as weak equities and correction in Copper hurt the metal. The COMEX Silver futures tanked to a three week low near $22 per ounce and currently quote at $22.09 per pound, down half a percent on the day. MCX Silver futures had tanked in last session and stayed under stress today given the lax global cues. The counter currently trades down 0.28% at Rs 60257 per kg after almost testing Rs 60k mark. COMEX Silver futures lost around 4% in last session as a modest rally at the start of the year 2021 failed to hold on. Bullion counters have been hit by minutes of US Federal Reserves last meeting, which signaled the central bank may have to raise interest rates sooner than expected.

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