AHMEDABAD (Commodity Online): MCX Silver March contract gained sharply by 1.49 percent in yesterday session mainly taking cues from gain in base metals and Gold prices along with weakness in the US dollar. White metals touched an intra-day high of Rs 57300 and closed it's trading at Rs 57157.
In Today's session it's open positive and currently trading at Rs 57288, up by 0.23 percent by 11:28 IST. It touched an intra-day high of Rs 57358 till the trading.
Silver prices expected to trade in a sideways bias on account of uncertainty with respect to Greece debt worries. Technically MCX Silver future currently trading near to it's very important resistance level of Rs 58000, more upside expected in Silver prices if it's traded and sustain above Rs 58000. Silver march contract having good support at Rs 56800 for today's session, informed Ankush Kumar Jain, Analyst with Commodity Online.
If Silver prices sustain above Rs 58000 then we can see Rs 60000 levels in coming sessions, added Jain.
To get in touch with the Analyst on this report or to get a free trial on trading advisories call 079-40275050 or mail to tips@commodityonline.com
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