Investing.com - Financial Markets Worldwide

Silver Stuck In A Range And A Close Below Rs 47000

ByCommodityOnline
Published 03/04/2014, 02:03 AM
Updated 05/14/2017, 06:45 AM



Silver prices plunged sharply last week after they failed to sustain above previous week’s highs and gave up gains steeply, to form a bearish candle for the week. Bears were seen ruling the counter as they snatched the battle from bulls that have been on a roller coaster rise from past three weeks earlier. Broader picture suggest prices are stuck in a range and a close below Rs 47000/kg will attract bears to take it lower towards Rs 45500/kg.

However if prices manage to close above Rs 48500/kg, bulls are likely to take the baton to pull counter towards Rs 50000 and Rs 52500/kg. Short term indicators are also supporting buying should remain intact in the market and prices are likely to gain further in the coming few weeks or so.

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.