(Time Zone: Arizona, USA)
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International silver prices are trading with gains on Monday morning and early afternoon in Asia supported by safe haven appeal and weak dollar.
The gold-silver ratio fell this Monday morning and early afternoon in Asia suggesting that gold is currently underperforming against silver. The ratio is currently trading at 70.97 vs. a close at 71.96 on 31st December 2020.
Technically, LBMA Silver Spot has given a strong breakout above $27.00 levels indicating a positive momentum up to $27.30-$28.20 levels. Support is at $26.30-$25.80 levels.
Domestic silver prices are trading with gains on Monday morning and early afternoon tracking overseas prices.
Technically, MCX Silver March has given a breakout above 69000 levels indicating a positive momentum up to 70600-72700 levels. Support is at 69000-68200 levels.
Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained herein.