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  • Silver futures saw massive buying this week as prices hit seven year highs around $26.30 per ounce. Prices slipped from these levels though as continued acceleration in Covid-19 cases globally hurt the sentiments. COMEX Silver corrected after a break under $25 per ounce and ended just around $24.60 per ounce mark. MCX Silver rose above Rs 65500 per kg and ended just under Rs 65000 per kg mark. Worries over retail Indian demand stayed in place as prices have jumped nearly 30% over last three weeks. The local economic activity has come to a crawl amid extended lockdowns and labour markets remain in extreme stress.

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