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Commodity News Details
Silver spikes 3% but sharp gains in Shanghai inventories can curb upside
21-Jul-2026 12:10
COMEX Silver futures have surged impressively today as precious metals were supported amid broad geopolitical worries. Recent slide also triggered plenty of bargain buying and COMEX Silver edged up for a third session in a row. The metal currently trades at $58.87 per ounce, up 3.20% on the day. However, Silver inventories in China saw a massive spike in last week, cutting the recent string of declines. This can curb the upside for the metal in near term. The latest data from Shanghai Futures Exchange (SHFE) showed that total inventories on warrant in the exchange stood at 990039 kg as on 17 July 2026, marking a sharp spurt of 160181 kg compared to previous week. Inventories had dipped down around 10% over previous four-weeks. MCX Silver futures are up 2% at Rs 222700 per kg amid firm global cues.

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