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MCX silver September futures rebound nearly 2% to ₹2,26,327/kg as Comex rises 1.28%

AI Market Summary
Silver rebounded in India's MCX September contract after an early dip, tracking a recovery in Comex silver futures. The move follows recent pressure from Fed tightening expectations and a stronger USD that had driven steep losses in bullion. The bounce is framed as value buying at lower levels, highlighting short-term cross-market linkage between domestic futures and global pricing.
Impact level
● Low
Affected assets
NCCOXAG2USD/USDT+0.51%
AI Insight · NCCOXAG2USD/USDTAI Insight
● Neutral
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On June 30, MCX silver futures for the September contract settled at ₹2,26,327 per kilogram after rebounding nearly 2% (+₹3,693) from the day’s low. The move tracked gains in global markets, with Comex silver futures for September up 1.28% to USD 59.38 per ounce. The rebound followed steep declines in recent sessions, pressured by expectations of tighter US Federal Reserve policy and a stronger dollar. Analysts attributed the bounce to value buying at lower levels.
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