NEW DELHI: Silver futures saw a notable rise today as market participants ramped up activity, reflecting optimism in the bullion segment. On the Multi Commodity Exchange (MCX), December silver contracts climbed ₹107, or 0.12%, to reach ₹87,806 per kilogram by midday trading. The uptick came as a result of fresh positions built by traders amid robust demand in the domestic and global markets.
Key Market Drivers
- Global Demand and Supply Trends: Increased industrial and investment demand continues to underpin silver’s performance. Globally, the metal traded higher at $31.02 per ounce, reflecting positive sentiment despite a stronger dollar and elevated U.S. Treasury yields.
- Economic Outlook: As inflation fears ease and central banks adopt cautious monetary stances, investors are diversifying portfolios with safe-haven assets like silver.
- Technological and Industrial Usage: The growing reliance on silver for green energy technologies, including photovoltaic cells, has further spurred its appeal as a strategic commodity.
Outlook for Silver
Experts suggest that silver prices could remain bullish in the near term, driven by festive demand in India and favorable industrial consumption globally. However, volatility is expected as traders await U.S. economic data and Federal Reserve commentary.
Investment Perspective
Silver continues to be a preferred asset for hedging inflation risks and diversifying investment portfolios. With industrial demand projected to grow, analysts recommend monitoring price corrections as potential entry points for long-term investments.
For real-time updates on commodity trading, stay tuned to market platforms like MCX and global indices.
Web Team, C6N
(Input by Sources)
