MCX Silver short term trend is being discussed today. According to commodity charts MCX Silver is in hold short position. Some profit booking can be seen in MCX Silver as it is supporting the trend. Silver may also remain under pressure in the near term as uncertainty about global economy will weigh on gold and industrial metals. However, we do not expect a sustained decline in gold and this will limit
downside in silver as well. Buying on dips could be the strategy for silver this week.
MCX SILVER TIPS
MCX silver technical levels includes silver support and resistance levels. So, Support for the Silver is 55969-55735-55528-55435-55364-.Resistance for the Silver is 57825
SILVER NEWS UPDATES
• Silver holdings with iShares ETF rose by 66.56 tonnes last week to 9769.12 tonnes.
• The spot gold silver ratio stood at 53.15 on Friday as against 53.62 a week ago.
FOR GOLD VIEW, AGRI COMMODITY UPDATES, BASE METAL TIPS, CRUDE TIPS
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