Silver gains 2% , Rupee weakness to support

Mumbai-India (Dec 27)  Silver gained more than 2% yesterday with the international markets rising to $19.90 per ounce. Though there are no major cues in Intra-day as also said above, silver advanced wherein which we are changing our view in silver from selling to buying.


Silver was a strong performer yesterday and also managed to clock the best gains in the entire non-agricultural basket as the commodity followed the trend in gold while also took mixed to positive cues out of the base metals basket.

Silver gained more than 2% yesterday with the international markets rising to $19.90 per ounce. Though there are no major cues in Intra-day as also said above, silver advanced wherein which we are changing our view in silver from selling to buying for Intra-day trade.

Also in the gold – silver ratio front, yesterday the ratio slipped down towards the 61 mark and looking at the very near term scenario we would also recommend traders to go long in silver and sell gold for further reduction in the ratio in today’s session. Overall the commodity is also likely to take support out of the moderate depreciation in the Indian Rupee.