Silver - Oct 15, 2020 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International silver spot prices were weak this Thursday afternoon in Asian trade as the dollar gained strength.

Weakness in the base metals sectors also weighed on silver this Thursday afternoon trade.

Technically, LBMA Silver Spot is trading on flat note and trading below 21 as well as 50-Daily Moving Average indicating a negative trend in the counter. Resistance is placed at $24.50-$25.20 levels and Support is at $23.80-$22.90 levels.

Domestic silver futures on MCX tracked international prices and was trading with modest losses this Thursday afternoon trade.

Technically, MCX Silver December holds a resistance near 61500 levels below which will continue its sideways to marginal downside momentum up to 59500-57600 levels.

Source : Equity Bulls

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