Praveen Singh, head of currencies and commodities at Mirae Asset Sharekhan, recommends buying on dips rather than chasing the rally. He also advises closely monitoring the geopolitical situation
In ultra short-term, spot silver is likely to be under pressure on reduced safe haven demand and a firmer US Dollar
Silver trading strategy: Healthy risk appetite on US-China trade truce extension and surging risk assets would continue to support the metal into the dips.
Silver rally is primarily being driven by risk sentiments as expectations of rate cuts buoy the risk assets. Another supporting factor is healthy ETF inflows.
Silver is well-supported by strong ETF inflows, but a firm dollar and trade news flow pose a risk to the metal prices, analyst says
The World Bank expects silver demand to remain robust, supported by the grey metal's dual role as both an industrial input and a safe-haven asset
Usage-wise, silver has a 52 per cent demand from industrial applications, and one of the biggest demand growth driver is its use in clean energy applications such as solar energy and electric vehicles
Silver is emerging from gold's shadow as ETF returns outpace gold in recent weeks amid rising industrial demand, favourable price ratios and investor interest
With multiple factors, viz geopolitical and economic risks supporting silver, the white metal may extend its gains
The near-term outlook is somewhat bearish unless we see a strong and sustainable recovery in industrial commodities, says Praveen Singh
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)
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
Silver prices rose nearly 18 per cent in Q1 2025 as the it rallied around 3 per cent last week.
Silver Rate Today, March 19: There may be some profit booking ahead of the US FOMC policy decision as the Central Bank may opt for a hawkish pause
Silver price: 360 ONE Silver ETF opened for subscription today, March 10, 2025, and will end on March 20, 2025. The scheme will reopen for continuous sale and repurchase from March 28, 2025
Silver may decline a bit, though downside is likely to be limited
Silver is expected to push higher should gold rise to record highs. The grey metal is up around 15 per cent this year
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
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)