As long as Silver continues to hold above $30 (Rs 88,000), we look for a target of $35 (Rs 103,000) in the coming months
The metal peaked at $32.25 in the Asian session and slumped to $31.25 in the US session before recovering sharply in the wake of the Fed Chair Powell's speech
The metal was trading at $2,906, down nearly 0.40 per cent on the day, whereas the MCX April gold contract was changing hands at Rs 85,540, down nearly 0.32 per cent on the day
The recent uptick in gold prices in 2025 has been led by tariff threats by US president Donald Trump, which in turn have seen investors move away from equities to safer havens.
Support for Silver is at $31.77 (Rs 94,000) /$31.11 (Rs 92,000). Resistance is $32.55 (Rs 96,300)/$33.45 (Rs 99,000)
In its Q3, the company swung back to profit at Rs 160.04 crore from a loss of Rs 5.35 crore incurred a year ago
Silver rate today: The metal may recover should the US CPI data turn out to be subdued, though upside is likely to be capped
Spot gold traded in the range of $2,621-$2,661 on January 2
On December 26, spot gold rose on flattish US Dollar and mixed US weekly job data
We remain bearish on oil prices for 2025, although Opec+ extension may hold prices from steep fall in Q1-2025
Crude prices moved higher Monday on the prospects for additional stimulus measures in China that could revive economic growth and energy demand
Spot silver is changing hands at $31.37, up around 0.22 per cent on the day, at the time of writing this report
Spot gold at the time of writing this report is trading at $2,631, down nearly 0.76 per cent on the day
The meeting was originally scheduled for December 1, 2024. A handful of Opec members are set to gradually bring 2.2m b/d of supply back onto the market next year
As industrial commodities remain under pressure due to lack of China's fiscal stimulus and concerns over trade friction, silver will rely on geopolitical development for its upward traction
Spot gold is expected to be choppy on crosscurrents of haven demand on geopolitical worries and healthy risk appetite
The metal consolidated its losses on Tuesday and was trading nearly 0.18 per cent up at $30.36 at the time of writing this report
The metal, closing 3.22 per cent lower at $2625 on November 25, traded between $2,605 and $2,642 on Tuesday and was down by nearly 0.20 per cent to trade at $2,620 at the time of writing this report
Traders are concerned that the Russia-Ukraine war is likely to take dangerous turns on escalating tensions
With China's fiscal stimulus failing to excite investors, Silver is likely to be under pressure in the short term, even gold and copper prices weaken