Silver slides from two-month high as $90 per ounce mark caps upside

Silver futures slipped today after recording sharp gains in last session. The metal jumped more than 4% to hit two-month high as Copper swelled to record highs. However, $90 per ounce level capped the upside for the counter and the commodity slipped thereafter. Markets eyed a moderate undertone in Gold and also focused on the rising silver stocks in Shanghai. The latest data from Shanghai Futures Exchange (SHFE) showed that total inventories on warrant in the exchange stood at 812413 kg as on 8 May 2026, soaring by 47660 kg compared to previous week. This sharp spurt has ensured that the recent uptick from lowest in a decade stays in place as Inventories hit five-month high. Inventories are up around 32% over last one month. This pulled the metal down around 2% as it trades at $87.60 per ounce. MCX Silver futures shed 0.75% to trade at Rs 297990 per kg.

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