COMEX Silver Soars 1%

Silver futures gained impressively on MCX today, extending their recent break above Rs 40000 per kg. Good buying was seen in Gold and Silver witnessed an impressive pickup in demand. COMEX Silver futures jumped nearly 1% today amid a slight bout of weakness in the US dollar. Indian Silver demand has been supportive for the commodity of late as the metal picked up strength from a five month low. Indias Silver imports surged by nearly 39% to Rs 3161.44 crore in April 2018. COMEX Silver futures are currently trading at $ 16.58 per ounce. MCX Silver futures are quoting at Rs 40612 per kg, up 0.84% on the day.