Silver spikes to one-week high as break above $38 mark extends

COMEX Silver futures have spiked today, witnessing excellent gains amid weakness in US dollar index and firm global equities. The metal edged up above $38 per ounce yesterday raced up to one-week high. It currently trades at $38.63 per ounce, up 1.65% on the day. The US dollar index broke under 98 mark today, sliding from one-week high and currently trades down half a percent at 97.46. Some consolidation is being witnessed in the COMEX Silver warehouse stocks after recent increase and the metal is also eying stable moves in Copper. On the MCX, Silver futures are currently trading at Rs 115216 per kg, up 1.30% on the day.

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