Silver prices expected to test 56200 -56500 on higher side today
Nirmal Bang has come out with its report on Gold,Silver, Copper, Nickel, Lead and Crude
Gold prices tested the upper range at 28850, for the day we can expect it to take support around 28650 – 630 and extend the range till 29000, which should be a profit booking zone.
Silver prices are consolidating and are expected to test 56200 -56500 on higher side, with oscillators weakening one can expect selling pressure around 56200 – 56500.
Copper prices resisted the downward sloping trend line at 390, for the day if it sustains below 390, one can initiate a sell with a stop loss of 394. Oscillators indicating sideways to down move.
Nickel prices were struggling to find buying interest. Prices should correct if sustains below 893. On higher end prices can test 912 – 915 which should witness selling pressure.oscillators are in negative zone.
Lead prices resisted at the previous top at 105.55, which suggest some profit booking around 103.50 -103.20. Fresh buying above 105.55. oscillator in positive zone.
Crude prices witnessed profit booking and did not closed even above 5150, which suggest we can expect it to trade down till 5000 - 4950, which is holding as a strong support. one can sell around 5100 – 5120. – MoneyControl
- Silver To Average Lower Price In 2013 Than In 2012 But Demand For Silver Coins Is Soaring Globally: Silver Institute - April 25th, 2013
- Silver Could Reclaim $30/Oz In 2013 - Thomson Reuters GFMS - April 25th, 2013
- China Silver imports decline in March 25% y/y to 195.98 tons: Barclays - April 24th, 2013
- India, China governments cling to Silver stocks with no sales in 2012 - April 24th, 2013
- Silver demand seen rising in 2013 on industries, investment-GFMS - April 24th, 2013
- Silver coin investment demand in China surges industrial demand in India too - April 24th, 2013
- Silver prices may average $26 oz in 2013 and $24 oz 2014: Barclays - April 23rd, 2013
- Deutsche Bank cut 2013 silver price outlook by 16.5 percent to $31 an ounce - April 18th, 2013