Silver Prices

In the global market, gold futures on Comex were trading near $4,200 per ounce, while silver was trading near $61.40 per ounce

Gold and silver have corrected sharply since April, falling 11 per cent and 19 per cent, respectively, in USD terms.

Since gold ETFs and silver ETFs are designed to track the price of the underlying metal, a decline in the bullion prices weighs on them.

Mirae Asset Sharekhan said that traders may buy the metal with a strict stop-loss below $62 for short-term trading. Resistance is seen at $65, followed by the $66.05-$66.40 zone.

Silver may rise further to test resistance around $68 as yields, after relentless rise in last few days, can correct further. Interim resistance is seen at $66.55. Support is at $64.50-$62.80

Analysts believe the bullion rose as the US Fed rate hike is largely discounted by the market. Meanwhile, a fall in oil prices for the third straight day softened inflation concerns.

Gold edged lower in early trade on Comex after opening at $4,448 per ounce, with the precious metal last trading at $4,458.90, down $1.80 from the previous close

Mirae Asset Sharekhan said dovish Fed commentary has eased downside pressure on silver, but high China inventories, subdued LBMA lease rates and weak ETF flows remain concerns.

The US merchandise-trade deficit widened in July from $101.40 billion to $118.80 billion, the largest since early last year, as imports surged.

On the Multi Commodity Exchange (MCX), gold futures were trading near ₹1,58,300 per 10 gram at the time of writing, while silver futures were around ₹2,40,300 per kg

Silver price outlook: Praveen Singh of Mirae Asset ShareKhan said that spot silver is expected to consolidate its gains after rising a whopping 12 per cent last week.

In the global market, gold was trading near $4,465 per ounce on Comex, while silver was around $65.60 per ounce

Hitesh Rathi, Technical Analyst (Equity & Derivatives) at Angel One believes that the technical set-up of Titan, Kalyan Jewellers and Hindustan Zinc suggests further upside for these stocks.

Gold and silver futures advanced as easing West Asia tensions boosted hopes the US Federal Reserve may delay further interest rate hikes

In the very short-term, silver can test the resistance around $61, with interim resistance at $59.45. Support is seen at $576.75/$54, while resistance is at $61.

Even if silver performs, we believe the weightage for gold could be higher in one's portfolio, said Manav Modi of MOFSL.

Experts advise investors to avoid aggressive buying and accumulate gold and silver gradually on dips as Fed policy uncertainty keeps precious metal prices volatile

Gold futures edge higher on short covering even as a firmer dollar and elevated US Treasury yields cap gains, while silver trades lower

The yellow metal of 99.9 per cent purity climbed Rs 1,400 to Rs 1,46,900 per 10 grams (inclusive of all taxes) from Friday's closing level of Rs 1,45,500 per 10 grams

Gold and silver futures traded higher in domestic and global markets as escalating geopolitical tensions boosted demand for safe-haven assets