Silver Prices Likely To Trade On Mixed Note
CommodityOnline | Jun 26, 2014 06:22AM ET
In the Indian Markets, silver prices rose by 0. 36 percent taking cues from international spot Silver prices. Further , depreciation in the Indian Rupee supported prices.
A spot Silver price increased by 0. 53 percent in yesterday’s trading session on the back of upside in the base metal packs and international spot gold prices . Additionally, weakness in DX supported prices to trade in green . However, weak economic data from US capped sharp upsurge in the prices . In the Indian Markets, silver prices rose by 0. 36 percent taking cues from international spot Silver prices. Further , depreciation in the Indian Rupee supported prices. Silver prices touched intraday high of 44820/ Kg and closed at 44653/ Kg.
We expect spot Silver prices to trade on mixed note. Weakness in DX, strong economic data from China coupled with upside in the Spot gold price may support prices to trade in green. Further, US Federal Reserve committed to retain accommodative monetary policy; this may support Silver Prices. However, weak economic data from US and geopolitical tension in Iraq and ongoing dispute between Russia and Ukraine may keep prices under pressure. In the Indian Markets depreciation in the Indian Rupee may support prices.
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