(Time Zone: Arizona, USA)
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International silver prices are trading with small gains on Thursday morning and early afternoon in Asia, tracking gold prices and a weak U.S. Dollar.
Technically, LBMA Silver Spot has rebound above $27.00 levels indicating a sideways momentum in the range of $26.30-$27.90 levels.
Domestic silver prices are trading with modest gains on Thursday morning and early afternoon trade, tracking firm overseas prices.
Technically, MCX Silver March could hold a support near 69000 from where a bounced back can be expected up to 70600-71200 levels. Support is at 69500-68700 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.