(Time Zone: Arizona, USA)
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International and domestic silver were trading with gains amid a weaker U.S. Dollar and tracking the strength of the industrial metals.
Technically, LBMA Silver Spot has bounced back from $21.90 levels where it had held support at previous bottom and has started to trade above $22.50 levels indicating sideways to marginal upside momentum to continue above these levels. It could trade in the range of $22.40-$23.50 levels.
On the charts, MCX Silver March held support near 58880 levels where it bounced back and started to trade above 60000 levels indicating positive momentum up to 61900-62300 levels. Support is at 59900-59000 levels.
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