MCX silver futures open higher on West Asia conflict, tightening supply
This story was originally published at 10:13 IST on 4 March 2026
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MUMBAI – Futures contracts of silver on the Multi Commodity Exchange of India opened higher Wednesday, pulled up by trends in global markets. The most traded May contract opened at INR 271,000 per kg, up from INR 265,318 per kg. At 0942 IST, the contract was at INR 273,232 per kg.
The May futures contract of silver on COMEX was up 2.3% at $85.37 per ounce as hostilities continued in West Asia. The silver contract followed the market trend in gold.
Market specialists, however, were sceptical of the strength of the market as the West Asian situation is likely to push up inflation, thereby ending any hope of a rate cut by the US Federal Reserve. Nonetheless, while the dollar strength will be under the market's watch, physical silver markets have been showing tightening conditions. Shanghai Futures Exchange inventories have fallen to around 350 tonnes--close to a decade's low and down sharply from their peak in 2021, said observers. End
US$1 = INR 92.16
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Abhijit Doshi
Edited by Rajeev Pai
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