Total known global silver ETF holdings stood at 710.01 MOz, the lowest since September 23, as on January 27
Silver looks vulnerable as industrial commodities are under pressure on Trump's tariff threats
Silver trading strategy: Support is at $30 (Rs 90,200)/$29.60 (Rs 89,000). Resistance is at $31.10 (Rs 93,400)/$31.50 (Rs 94,600)/$31.85 (Rs 95,600)
Silver rate today: The metal may recover should the US CPI data turn out to be subdued, though upside is likely to be capped
Silver trading strategy: Stable US yields may help Silver test the resistance around $30.20 in ultra-short term, though buying the dips is advisable over chasing the rally
Where investors find philosopher's stone, with Rs 19K crore inflow in first 11 months of CY 2024
With a constrained supply growth and rising industrial usages, silver is mostly headed for a fifth straight year of deficit in 2025
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
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
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
The Fed cutting rates despite citing strong growth will put the focus back on inflation. The US bonds are quite volatile. Yields are likely to spike again on growth expectations and deficit concerns
Silver rate today: Silver is likely to do better than gold in the short-term in case Harris wins the presidential race
Gold and silver ETFs from Nippon India Mutual Fund, the largest in the category, alone recorded a combined volume of Rs 228 crore
Silver rate: The metal is expected to be highly volatile and choppy as this week is packed with crucial data out of both China and the US, and the next week will be about the US presidential elections
Spot silver at the time of the MCX closing was trading at $33.67, down around 0.10 per cent on the day.
Silver rate today: Unless we see a sharp decline in gold or copper prices, silver is likely to trade with a bullish bias
Silver is expected to trade with a positive bias in near-term on the US presidential election uncertainties, healthy ETF inflows, and strong demand in India amid geopolitical tensions
Surging US Dollar Index and tumbling bond prices are acting as headwinds for the metal as the US rate cut pace has become somewhat uncertain in the short term. Dip buying is preferred.
On Tuesday, silver surged sharply higher on an unexpectedly huge stimulus package announced by China's Central Bank and the Chinese authorities.
Spot silver was extremely volatile in the wake of the US Fed cutting rates by 50-bps at its FOMC meeting concluded on September 18.