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Commodity News Details
Silver swells well above $90 per ounce, Shanghai inventories down around 90% from record high
02-Mar-2026 11:28

COMEX Silver futures soared today, tracking firm cues from Gold as safe-haven demand escalated. Over the weekend, Iran's Supreme Leader Ayatollah Ali Khamenei was killed after Israel and the US launched a massive and ongoing attack against Iran's leadership and military. US President Donald Trump has urged Iranian forces to lay down their arms. This propped up bullion futures at the start of the week and very thin inventories in China boosted the white metal further. COMEX Silver futures are currently quoting at $94.61 per ounce, up 1.41% on the day. These are the highest levels for the metal in last four-weeks. Silver is building onto the 19% rally seen in last month.

Meanwhile, the latest data from Shanghai Futures Exchange (SHFE) showed that total inventories on warrant in the exchange stood at 306596 kg as on 27th February 2026, falling sharply by 46963 kg compared to previous week. Inventories are at decade low and have dipped around 62% on year ago basis. Current stockpiles are nearly 89% lower than the record peak of 3,091.112 tonnes recorded on January 12, 2021.

Firm global cues have boosted MCX Silver too. On MCX, Silver futures have soared 3.20% to trade at Rs 291699 per kg after hitting a high above Rs 293100 per kg.

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