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Commodities
Silver - Jan 4, 2021 - Reliance Securities
Posted On : 2021-01-04 17:06:26( TIMEZONE : IST )
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.
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