Silver rate today Live: Extending the bull run, the COMEX silver price opened with an upside gap and touched a new lifetime high of $82.548 per ounce within a few minutes of the Opening Bell on Wednesday. Silver prices have been on an uptrend following the escalation of the US-Venezuela crisis. On the MCX, silver rates reached a new peak on Tuesday, when the white metal climbed to an intraday high of ₹2,59,322 per kg. However, MCX silver rates finished at ₹2,58,000 per kg levels.
According to market experts, silver rates today may continue to trade positively as investors expect a demand-supply constraint, favouring the bull trend, due to the US-Venezuela crisis, which is expected to impact silver exports from Peru, Chad, Mexico, and other Latin American countries. They said that much will depend upon the COMEX silver. If silver prices in the international market sustain higher levels above $82 per ounce, then we can expect the white metal to attempt to test $90 per ounce.
Silver rate today: Outlook for the precious white metal
Speaking on the outlook of silver rates today, Anuj Gupta, Director at Ya Wealth, said, “If prices sustain above the resistance placed at $82 per ounce, the next level to watch for is $85 and $90 per ounce levels.”
