India Silver futures may trade volatile; US Silver bearish

NEW DELHI-INDIA  (Aug 6)  Silver prices declined on Tuesday and is seen trading bearish tracking the bearish trend in gold supported by weak international cues. The white metal is likely continue with the trend as there are no major data releases are scheduled for the day.

Silver for September delivery on Globex platform of Comex was seen trading down by 0.32% at $19.625 per troy ounce as of 05.47 PM IST on Tuesday.

MCX Silver

The trend in silver futures for September delivery on India's Multi Commodity Exchange (MCX) is seen trading slightly up and is expected to trade volatile during intra-day trade, according to our analyst at Commodity Online.

“For intra-day, resistance for the commodity is seen at 42200 and 42800 levels while support is seen at 41000 level. Traders are advised to remain cautious while taking positions for the day,” said Tarang Parmar, Research Analyst at Commodity Online.

MCX silver for September delivery was seen trading up by 0.11% at Rs.41807 per kilogram as of 05.39 PM IST on Tuesday.