Silver futures on the COMEX recorded a 2.35% intraday amplitude on June 28, swinging between $58.53 and $59.92 before settling at $58.58. The session marked the widest daily range for the precious metal in recent weeks amid broader commodity market headwinds.
Silver futures on the COMEX recorded a 2.35% intraday amplitude on June 28, swinging between $58.53 and $59.92 before settling at $58.58. The session marked the widest daily range for the precious metal in recent weeks amid broader commodity market headwinds.
Silver futures posted a 2.35% intraday range on June 28, swinging between $58.53 and $59.92 before closing at $58.58.
The $1.39 per ounce amplitude exceeded silver's 30-day average daily range of about 1.8%, according to COMEX trading data.
The contract opened at $59.30, rallied to a session high of $59.92 in early trading, then reversed to hit a low of $58.53 before settling near the bottom of the band. Volume reached 1,793 contracts.
Silver's elevated volatility comes as industrial metals face pressure from demand uncertainty. The metal, which trades both as an industrial input and a monetary asset, remains sensitive to shifts in US interest rate expectations and dollar moves. The next key data point for precious metals is the US ISM manufacturing print due early next month.
The 2.35% swing compares with silver's 30-day average daily range of approximately 1.8%, suggesting heightened uncertainty in the session. Silver has traded in a wide band over the past quarter, with prices ranging from the mid-$50s to above $60 per ounce.
The broader precious metals complex showed mixed signals. Gold prices held relatively steady during the same period, while platinum group metals also saw elevated intraday moves. Silver's dual role as both an industrial metal and a monetary asset leaves it exposed to cross-currents from manufacturing data and Federal Reserve policy expectations.
Traders will watch for COMEX inventory data this week for signs of physical market tightness. A sustained move below $58.50 could open the path toward the $57 level, while resistance sits near $60.50, according to technical levels derived from recent trading patterns.
This article is for informational purposes only and does not constitute investment advice.
