Weekly Silver Review: MCX Futures End Around Rs 65K Mark

26 Feb 2022 , 02:43 PM

COMEX Silver futures shot up in line with the Gold prices as safe haven demand for bullion escalated amid Russias invasion of Ukraine. The white metal broke above $25 per ounce and quickly spiked to a multi month high of $25.67 per ounce as COMEX Gold rallied well above $1900 levels. However, a lax movement in Copper prices weighed on the commodity and an eventual fall in Gold under $1900 per ounce also triggered some corrective action. Global economic undertone remained cautious as the Russia-Ukraine tussle continued. COMEX Silver slipped amid these cues and ended at $24.33 per ounce. MCX Silver futures hit near Rs 67000 per kg mark and pulled back under Rs 65k thereafter.

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