Silver sinks in Asia, MCX futures down around 2%

COMEX Silver futures sank in Asia to test two-week low as a firm US dollar and soaring Chinese Silver inventories weighed on the metal. The counter currently trades at $73.18 per ounce, down around 2.50% on the day. Silver had tanked around 1.80% in last session too. The latest data from Shanghai Futures Exchange (SHFE) showed that total inventories on warrant in the exchange stood at 689552 kg as on 24 April 2026, jumping 124690 kg compared to previous week and hitting four-month high. MCX Silver futures July are down 1.93% at Rs 242588 per kg. The counter lost 1% in last session and saw a massive spike in open interest as traders rolled over positions ahead of the expiry of near month futures. COMEX Silver has lost 4.42% this week.

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