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Commodities

Silver Futures Soar to ₹2.19 Lakh Amid Global Rally and Strong Industrial Demand

Guavy AI Editorial Team
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Silver
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Silver futures on the Multi Commodity Exchange (MCX) surged to ₹2.19 lakh per kg on Tuesday, following a global rally and strong industrial demand.

The price of the white metal for September delivery increased by ₹2,670, or 1.23%, to ₹2,19,416 per kilogram from Monday's closing level of ₹2,16,746 per kg.

Renisha Chainani, Chief Research Officer at Augmont, attributed the upside move in silver to investors weighing conflicting signals over possible talks between Washington and Tehran, and awaiting US labour market reports for clues on the Federal Reserve's rate path.

The Comex silver futures for the September contract rose 2.15% to trade at USD 59.09 per ounce in New York, driven by stronger-than-expected US manufacturing data and continued economic resilience.

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