Silver has surged almost 80% this year — with gains driven by some of the same macro factors supporting gold, as well as a historic squeeze in the London market. (Photo source: Unsplash) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Spot silver prices have seen a sharp slip recently, with the devil's metal facing tightening supply amid ever-increasing demand especially in the festive season.

According to Kotak Securities, the metal, which has recovered 2% on Thursday to trade slightly over $49, faces immediate resistance at $50, followed by higher hurdles at $50.54 and $52.31. On the downside, support lies at $48.23, then $47.68, and further at $45.92 if selling pressure intensifies.

In India, MCX silver traded at Rs 1,48,352 per kg, with Kotak Securities pegging resis

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