Silver - November 17, 2020 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International silver prices were trading marginally in the red this early Tuesday afternoon trade tracking the weak base metal sectors.

Most base metals were down this early Tuesday afternoon trade as demand could take a hit as covid-19 cases showed no signs of pausing in the U.S. and Europe.

Upside was limited despite solid factory numbers from China and positive news surrounding the vaccine which has pushed prices higher over the last 2 sessions.

Markets could look ahead to the economic calendar for further cues with the U.S. expected to release retail sales data tonight.

Technically, LBMA Silver Spot trading near 50-DMA at $24.60 levels where above it will continue its positive momentum up to $25.10-$25.30 levels. Support is at $24.36-$24.13 levels.

Source : Equity Bulls

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