Silver hits $70, Shanghai inventories see sharp slide

COMEX Silver futures gained amid steady cues from Gold and Copper markets and sustained drop in Silver inventories in China. The latest data from Shanghai Futures Exchange (SHFE) showed that total inventories on warrant in the exchange stood at 886061 kg as on 12 June 2026, marking a sharp fall of 86550 kg compared to previous week. Inventories continue to slide after hitting around six-month high. COMEX Silver topped $70 per ounce and currently trades at $70.35 per ounce, up 0.47% on the day. MCX Silver futures are marginally in red though, trading at Rs 249878 per kg as INR lingered near five-week high against the US dollar.

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