AHMEDABAD (Commodity Online): Silver opened at 32.14 as compared with previous close of 32.09 and the next nearest support level is looking around 29.76 and then 28.62. Traders are eying dollar index which is traveling at 78.85, which is ultimately pressurizing bullion and base metals to remain in a tight range or to enter in negative territory.
Today there are no economical event release in US, which may further hamper the expectation of a common trader to take any kind of a clue from the market.
Meanwhile, everybody is focused on European leaders to take core initiative, for up-bringing the overall position of the European continent, for which Britain has already declared not to involve itself to Euro.
MCX Silver is having support at Rs. 55900 (only for intraday), which is not looking to get broken, and resistance at Rs. 57000, currently the market is looking range-bound as far as prices are not moving below the given support level.
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