Silver prices surge 45% on MCX in 2020; White metal may touch Rs 80,000 per kg in 2021, says Angel Broking
Silver is expected to benefit from improving industrial demand as governments invest in infrastructure spending to stimulate economic growth.
Silver
Silver prices were steady at Rs 68,550 per kg on December 31 as participants increased their short positions as seen by the open interest. The precious metal had gained 1.4 percent yesterday on the COMEX.
The white metal price has been stuck in a narrow range above $26/oz amid lack of fresh triggers ahead of year-end.
Silver prices were supported by the weakness in the US dollar and improving demand outlook for the industrial sector amid a recovery in the manufacturing sector.
Rupee rises by 11 paise to end at over 2-month high
PTI
Mumbai |
Updated on
December 30, 2020
The rupee opened lower at 73.62 and slipped further to 73.64 against the dollar. File Photo - Reuters
The rupee opened lower at 73.62 and slipped further to 73.64 against the dollar. File Photo - Reuters× Rising for the fifth straight session, the rupee on Wednesday appreciated by 11 paise to close at more than two-month high of 73.31 against the US dollar on the back of foreign fund inflows and a weak greenback in the global markets. At the interbank forex market, the domestic unit opened at 73.35 against the US dollar and witnessed an intra-day high of 73.26 and a low of 73.36.
Gold - Dec 29, 2020 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
LBMA Gold Spot is trading on flat note and is sustaining below100-Daily Moving Average where breakdown $1866 is awaited for further downside fall up to $1854-$1827 levels. Resistance is at $1881-$1895 levels.
MCX Gold February is trading below 65-Daily Moving Average below 50050 levels indicating for a sideways to marginal downside to continue upto 49800-49500 levels. Support is at 50100-50700 levels. Strategy for Gold February Sell near 50050 SL 50200 TGT 49800
Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. Thes
Silver - Dec 29, 2020 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
LBMA Silver Spot is loosing momentum from $26.60-$27.30 resistance zone below which could see some sideways to marginal downside momentum up to $25.30-$24.40 levels.
MCX Silver March is trading on flat note where it could trade in a range of 67500-69400 levels. Strategy for Silver March Sell near 68400-68450 SL 69000 TGT 67200
Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based