Silver Supported Above $23 Mark As US Coin Sales Soar

9 Dec 2022 , 03:04 PM

COMEX Silver futures stayed supported today after breaking above $23 per ounce mark yesterday as firm movement in Copper and Gold futures and steady equities helped the metal. The commodity had dipped earlier in the week, falling near $22.20 per ounce before witnessing a good recovery as bargain buying capped losses. Indian demand remains upbeat and there is likely to be a good upswing in Silver coin purchases in the US over the coming weeks. A latest update from the US Mint showed it sold 1.4 million ounces of silver in November- strongest monthly sales since March. This is keeping COMEX Silver above $23 per ounce as the metal is consolidating just under seven month high of $23.69 per ounce.Powered by Commodity Insights