Last Updated : September 09, 2010 12:15
Silver losses can limit itself on weaker dollar
Silver futures prices ended flat like gold. The December silver prices ended at $20.009 levels. Similarly, Indian December futures Silver prices ended at Rs. 31511 levels. The rise on silver prices was also driven by higher metals prices.
Key Observations
The dollar index was changed by -0.31% yesterday
US stock markets trade ended higher by 0.45%
Outlook
Currently, at Globex platform the December futures silver prices are trading lower by 0.77% and hovering around $19.860 levels. Silver prices are already trading lower taking cues from base metal movement.
The base metals are trading down by more than 3% at SHFE and LME. This is pulling Silver to trade lower. The impact is likely to continue through out the session.
However, losses could be limited due to strong equity markets and weaker dollar.
Going by the current situation, we may see silver to decline and gold to rise. Hence, the ratio is likely to improve on today’s trading session.
Courtesy: Karvy Commtrade Ltd.
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MCX ALMOND 29 February 2012
contract was trading at
Rs 371.25 . What's your view on it?
