Silver rate today Live: Silver price in the international market extended its rally during the early morning session on Tuesday. The COMEX silver is currently trading up by over one per cent, and it is quoting close to its hurdle, set at $78 per ounce. Similarly, on MCX, silver rate today opened with an upside gap on Tuesday. The white metal on MCX is also trading close to the immediate hurdle placed at 2,50,000 per kg levels.
According to market experts, the silver rate today has been on an uptrend, and geopolitical tension caused by the US attacks on Venezuela is the major reason for this rise in the white metal prices. They said the COMEX silver price is facing a hurdle at $78 per ounce. Upon breaching this resistance, the white metal is expected to reach $82 and $85, respectively.
On the MCX, they predicted that the silver price today is facing a hurdle at the 2,50,000 per kg level. Upon breaking above this hurdle, the white metal may soon reach levels of 2,55,000 per kg. Silver rate today in Delhi finished on Monday at Rs 2,45,510 per kg.
Silver price outlook
Speaking on the outlook of silver rate today, Anuj Gupta, Director at Ya Wealth, said, “COMEX silver rate today is in a broader $72 to $78 per ounce zone, whereas MCX gold rate today is in a broader range of 2,42,000 to 2,50,000 per kg. On breaking above 2,50,000, the white metal may soon touch 2,55,000 per kg levels.”
The Ya Wealth expert maintained that white metal is expected to move upward due to a rise in demand for silver as a safe haven amid the escalating US-Venezuela conflict.
