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Praveen Singh is associate vice president of fundamental currencies and commodities at Sharekhan by BNP Paribas.
Praveen Singh is associate vice president of fundamental currencies and commodities at Sharekhan by BNP Paribas.
Silver rate today: Improvement in risk appetite due to President Trump delaying European tariffs and stabilising bond yields are likely to support Silver prices
With multiple factors, viz geopolitical and economic risks supporting silver, the white metal may extend its gains
Gold is well supported in a risk-off scenario due to geopolitical and economic issues
The near-term outlook is somewhat bearish unless we see a strong and sustainable recovery in industrial commodities, says Praveen Singh
As traders remain hopeful about further improvement in the global trade scenario, upside in the metal may be limited in the near term, says Praveen Singh
The metal may test $3372-$3400 resistance zone. Upside is likely to be capped at $3400 in the short-term
Silver is up nearly 17 per cent since its cycle low of around $28.15 made on April 4. Although it is lagging gold, it is up around 14 per cent year-to-date (Y-T-D)
On April 24, spot gold traded between $3,288 and $3,367 as the metal recouped some of its huge loss that occurred due to sell-off on April 22 and 23
Spot gold surged solidly higher on safe haven demand as trade war intensified with the Trump Administration looking into imports of computer chips, chip making equipment and pharmaceuticals
Gold/Silver ratio above 100 poses a risk to silver prices as it indicates troubles with the global economy. The ratio may rise to 110-112 in the coming weeks
Interim support is at $29 (Rs 86,000). Resistance is at $30.90 (Rs 91,600) /$31.43 (Rs 93,200)
Support is at $2947 (MCX June contract ₹86,300) /$2900 (₹85,000). Resistance is at $3050 (₹89,300)/$3100 (₹90,800)
Silver has been subjected to intense selling pressure due to its industrial attribute. Nearly 64 per cent of the total demand for the metal is industrial, says Praveen Singh of Mirae Asset Sharekhan
Considering the facts that US equities fell 4-6% in the wake of tariffs and some of the commodities like silver and crude oil slumped 6-7%, gold fared much, says Praveen Singh of Mirae Asset Sharekhan
Gold rallied 19 per cent in the first quarter as it was up around 2 per cent last week-its fourth straight weekly gain.
Silver prices rose nearly 18 per cent in Q1 2025 as the it rallied around 3 per cent last week.
Buoyed by safe haven demand, as gold hit a fresh record high of $3,059 on Trump's auto tariffs, and a weaker dollar, spot silver reached a fresh cycle high of $34.40 on March 27
On March 27, spot gold rose to a fresh record high of $3,059 on safe haven demand coming on US imposing auto tariffs. A weaker dollar also boosted the yellow metal
Spot gold was trading at $3,039, down around 0.25 per cent on the day, at the time of writing. The MCX Gold April contract at ₹88,700 was up around 0.1 per cent
The MCX May silver contract at ₹99,381 was down around 0.5 per cent. Silver reached $34.23, its cycle high on March 18, before giving back some of its gains