Silver Off One Month High, COMEX Futures Slip Around 1% In Asia

23 Feb 2022 , 12:27 PM

COMEX Silver futures eased today, sliding on corrective selling after recent spurt. The white metal had hit a one month high near $24.40 per mmbtu in last session before pulling back as weak US equities and a lax movement in Copper prices weighed on the commodity. Global economic undertone remained cautious as the Russa-Ukraine tussle continued. Prices have been well supported in recent weeks on rising industrial demand outlook and firm Copper prices. However, the mega slide in equities in last one week is now capping upmove in the metal. The DOW index fell to eight month low yesterday and consistent risk aversion is now keeping the US dollar index elevated above 96 mark. COMEX Silver has slipped amid these cues and currently trades down 0.89% at $24.10 per ounce. MCX Silver futures extended losses after breaking under Rs 64000 perkg mark and currently trades down 63990 per 10 grams, down 0.55% on the day.

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