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Commodity Mid Session News

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(25 Feb 2025, 14:55)

Silver lingers around two week low


COMEX Silver futures are witnessing tight moves after recent decline as a tepid action in previous metals and some selling pressure in Copper is capping the commodity. COMEX Silver has been under stress after falling to hold above $34 per ounce and currently lingers around two week low of $32.48 per ounce, down 0.39% on the day. Local market participants are eying cues from the retail spot markets after prices hit Rs 100000 per kg mark last week. Meanwhile, precious metals speculators added to their net long positions in the Silver futures markets further last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Silver futures, traded by large speculators, hedge funds and retailers, totaled a net position of 54454 contracts in the data reported through February 18, 2025. This was a weekly gain of 4744 net contracts and pushed up net longs to four month high.
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