Silver - Dec 21, 2020 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International silver and domestic silver were solidly higher this Monday morning and early afternoon trade in Asia supported by safe haven appeal for the metal.

Silver outperformed gold as the ratio continued to fall this Monday morning and early afternoon trade in Asia. Currently, the ratio is at 70.23 and was last seen at this level in the month of September.

Technically, LBMA Silver Spot is trading above $27.00 after giving a breakout of horizontal trend line and is trading above 100-DMA where further could see $27.06-$26.99 levels. Support at $25.40-$27.70 levels.

Technically, MCX Silver March is trading above 70000 levels and has also given a breakout of Rising Channel formation. Above, 68000 levels will continue its bullish momentum up to 71400-73000 levels. Support is at 68500-67300 levels.

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Source : Equity Bulls

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