Quick Read
Summary is AI Generated. Newsroom Reviewed
-
Silver prices fell 5% to around $72 per ounce in today's trade
-
Domestic silver prices were near Rs 239,588 according to MCX data
-
Global silver prices are down 14% from a record high of $83.75 per ounce
Silver prices dipped 5% to trade around $72 per ounce in trade today. Domestically, the prices were around Rs 239,588, as per MCX.
Amid a volatile week, global silver prices are trading 14% lower from its record high of $83.75 per ounce. The white metal is losing momentum after five consecutive weeks of gains.
Bloomberg reported that silver had rebounded sharply on Tuesday after suffering its steepest single-day decline in over five years on Monday, with persistent supply constraints keeping it on course for an impressive 35% monthly surge.
On Tuesday, the metal climbed past $78 per ounce, recovering from a 9% drop in the previous session, while gold posted modest gains following its largest two-month decline.
A report from Motilal Oswal suggests this is not random volatility from the metal, but the culmination of years of supply deficits.
RECOMMENDED FOR YOU
Gold, Silver Prices Trade Mixed — Check Rates In Delhi, Mumbai And Other Cities
Gold Can Retest Record Highs As Traders Eye Powell's Speech, RBI Policy: Analysts
FPI Pullback, Thanksgiving Cues, Sudeep Pharma IPO, Bonus–Dividend Rush — The Week Ahead
Forex Reserves Rise To $692.6 Billion After Three Weeks Of Decline
POPULAR