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Silver Shows Strength: Spot Price and Futures with Significant Gains
The silver market is experiencing an impressive upward movement in today's trading session. The spot price for silver has increased by 5.50%, while the New York silver futures have risen even more sharply by 8.00%. The futures contracts are currently trading at $76.70 per ounce, indicating strong demand.
This development demonstrates the ongoing momentum in the silver market, with futures contracts showing a stronger movement than the immediate spot price – a phenomenon that typically indicates increased institutional activity.