Here is an extensive daily list to give you the most recent information on silver prices in India's key cities.
The Silver COMEX stands at $30.310 per ounce, reflecting a positive change of $0.746 or 2.52% from the previous trading session. The highest price reached during the session was $30.330, while the lowest dipped to $29.410. The market opened at $29.615. These figures offer insights into the recent performance of silver on the COMEX, indicating fluctuations in price and market sentiment, which can be influenced by factors such as economic indicators, geopolitical events, and investor sentiment.
The benchmark index concluded a five-day winning streak with marginal changes in price. Despite this, the emergence of a Bearish candle in the elevated zone warrants caution. From a technical perspective, the consolidation zone from the previous week (around 23400-23300) is anticipated to provide support amidst minor price fluctuations, with a robust support level at 23200. Immediate resistance is noted at 23650-23700. Vigilance at these critical levels is advised for strategic decision-making. Sector rotation, particularly in banking, is expected to drive market dynamics, urging traders to prioritize a stock-centric approach for potential outperformance, says Sameet Chavan, Head Research, Technical and Derivative - Angel One.
Silver prices fluctuate daily due to various short- and long-term factors, including changes in supply and demand, economic indicators, geopolitical events, currency movements, and investor sentiment. Given the dynamic nature of the precious metals market, it is crucial for investors and traders to monitor and analyze pricing data effectively to make informed decisions.
These data points provide valuable insights into market trends and the factors driving price movements, aiding investors in navigating the silver market. However, investors should conduct their own research before making any investment decisions.
As the trading day progresses, it is essential for investors to stay vigilant and closely monitor silver rates for emerging trends or market developments. Staying informed about daily price fluctuations allows investors to spot potential trading opportunities and make well-considered investment choices.
For daily updates and in-depth analysis of silver rates, continue following our coverage on Business Insider India.
Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.