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Commodity News Details
Silver sees good recovery, MCX futures break above Rs 98K
28-May-2025 14:35
COMEX Silver futures have seen a good recovery today after falling in last session as steady demand trends clubbed with bullish triggers from metals like Gold and Copper pushed up the commodity. COMEX Silver futures are currently quoting at $33.33 per ounce, up 0.57% on the day. The counter had lost 0.90% in last session amid firm cues from the US dollar index. Meanwhile, this year's World Silver Survey (2025) revealed that global demand exceeded supply for the fourth consecutive year, leading to a market deficit of 148.9 million ounces. While industrial demand neared a new record at 680.5 million ounces'overall silver demand dipped slightly. This was largely following a decline in coin and bar sales in the US and Europe, which offset the steady performance of exchange-traded products. Silver is trying to hold gains after falling under $32 per ounce this month after a 5% correction in April. MCX Silver futures are currently trading at Rs 98067 per kg, up 0.61% on the day after testing lows around Rs 97800 per kg.

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