Silver slides, Shanghai silver storage soars

Silver futures slumped today, giving up in tune with copper after recent surge to around two-month highs. Upside was capped after the metal edged above $66 per ounce and a sustained rise in Chinese Silver inventories also weighed on the commodity. Silver inventories in China jumped in last week, adding to recent uptick. The latest data from Shanghai Futures Exchange (SHFE) showed that total inventories on warrant in the exchange stood at 1334644 kg as on 14 August 2026, marking a spike of 73400 kg compared to previous week. The stockpiles have zoomed around 35% in last four-weeks. Stockpiles had dropped sharply in My-June before turning around. COMEX Silver futures are currently trading at $65 per ounce, down around 1% on the day. MCX Silver futures are also down 1.30% at Rs 235028 per kg. The counter hit around Rs 236000 per kg but failed to sustain.

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