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Commodity News Details
Silver sees sweltering rise to hit 14-year high, MCX futures break above Rs 111000 per kg
11-Jul-2025 13:07
COMEX Silver futures spiked above $38 per barrel to hit around 14-year highs as sentiments stayed well supported for the metal despite a muted action in Gold and Copper. Broad demand trends are positive. The Silver Institute had noted at the start of the year that global silver market is forecast to record another significant deficit (total supply less demand) for the fifth consecutive year in 2025. Silver industrial demand will remain the key driver of this favorable supply-demand setting, with volumes projected to hit a new record high this year. Global silver demand is expected to remain broadly stable in 2025 at 1.20 billion ounces, as gains in industrial applications and retail investment will be mitigated by weaker jewelry and silverware demand. The metal soared 2% yesterday and added another 2% today to quote at $38.12 per ounce. The counter had spiked 9.5% in last month. Meanwhile, latest data from the London Bullion Market Association or LBMA has showed that monthly Silver clearing volume fell from a three-year high of 343 million ounces in Apr-25 to 251 million ounces in May-25. On the MCX, Silver futures are trading at Rs 111074 per kg, up 1.79% on the day. The counter soared 1.70% in last session with a sharp increase in volume.

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