Last Updated : 21 November 2012 at 19:35 IST
Silver outperforms Gold in recent rally; next target is $33.90/Oz: Barclays
Source :Commodity Online
A break above $33 an ounce in silver signals further upside toward our targets near $33.90/$34.40.
- Base metals, Oil may trade higher on US data; Gold, Silver to be negative
- Spot gold prices declined around 0.5 percent today on the back of upbeat global markets which led to fall in safe haven appeal for the commodity. Further, strength in the US Dollar Index (DX) added downside pressure on prices.
- read more
Consumer price inflation in the U.S. rose for the first time in three months in May, while prices..
By Col. Ajay
As per financial astrology, transit OD Sun in Saturn house is ..
NEW YORK (Commodity Online): Silver is outperforming gold as metals rise, said Barclays Capital in a daily commodity research note.
According to the British bank, a break above $33 an ounce in silver signals further upside toward our targets near $33.90/$34.40.
“We are looking for a similar move above $1,739 in gold to confirm upside toward $1,755 and then $1,775, which shields our greater target near $1,800,” Barclays concluded.
Global silver prices are slightly higher in the early morning trade on Wednesday. There is a fresh batch of U.S. economic data due out Wednesday morning, ahead of the U.S. Thanksgiving holiday on Thursday.
December silver last traded up $0.09 at $33.02 an ounce on the Comex division of the New York Mercantile Exchange.
- MCX Silver sideways to bullish; resistance 44200
- MCX Gold sideways to bullish; resistances 28150, 28300
- MCX Natural Gas positive; resistances 231, 234
- MCX Copper bearish; support 407 and 403
- Attention Commodity Investors: Seven key data releases to watch out for the day
- NCDEX Jeera range-bound at 13000-13300; Coriander negative