Silver dips in Asia, sentiments lax after 4% correction last week

COMEX Silver futures are in red today in Asia after recovering from a one and half week low in last session. The counter edged up yesterday on signs of a pick up in fund buying. Precious metals speculators added to their net long positions in the Silver futures markets last week, according to the latest Commitment of Traders (COT) data. The non-commercial futures contracts of Silver futures, traded by large speculators, hedge funds and retailers, totaled a net position of 26111 contracts in the data reported through May 12, 2026. This was a weekly jump of 2219 net contracts and pushed up net longs sharply from near two-year low. However, the metal slipped today and currently trades down 0.66% at $76.90 per ounce. Overall tone is tepid following last week?s 4% drop and markets are also eying geopolitical cues as US President Donald Trump has noted that Iran attack was postponed at request of Gulf allies. MCX Silver futures are down 0.63% at Rs 274900 per kg with domestic markets still trying to assess the impact of latest import duty hike and import curbs.

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