silver price
There has been a lot of fluctuation in the prices of silver for the last few days. Initially, there was a rise in the prices of silver on Tuesday and Wednesday, but yesterday i.e. Thursday, there was a sharp decline in the price of this white metal. Silver prices fell significantly in the futures market but saw a rise by the time the market closed. At the same time, today silver is trading with a decline in the spot market. Silver prices have fallen by about 9 percent.
Spot silver continued to fall on Friday, falling 8.9% to $64.88 an ounce by 0009 GMT and slipping below the $65 an ounce mark. At the same time, a record rise in spot silver prices was also recorded last week. The price had increased by $ 121.63 per ounce in a week.
At the same time, on Thursday, February 5, silver prices fell due to profit booking, ending the gains of the last two trading sessions. Due to increasing geopolitical tension between America and Iran, silver prices were increasing for the last 2 sessions. Gold prices also declined in today’s trading.
Gold prices also declined
The declining trend continued for the second consecutive session on Friday. Within a few minutes of the market opening, a sharp fall was seen in the prices of COMEX gold and silver. COMEX gold today slipped below the important support level of $ 4,750 an ounce and fell to $ 4,671.74 an ounce intra-day. At the same time, COMEX silver also broke the strong support of $ 70 per ounce and reached a low of $ 63.900 per ounce within a few minutes.
Also read- Silver Price Today: After two days of rise, silver became cheaper again today, prices decreased by 6 percent.