MCX and NSE said have removed an extra 3 per cent margin on all gold futures contracts and 7 per cent on all silver futures contracts, starting today. The move is expected to ease margin requirements
If tariff rates on gems and jewellery are reduced to zero, it will bring major relief to India's gems and jewellery sector, which counts the US as its largest export market, said ICICI Securities.
Silver moving through the $90/oz mark, believes Nigel Green, chief executive officer of deVere Group, a global consulting firm that has $14 billion in AUM, marks a decisive shift in market psycology
The tariff threat, tied to a dispute over control of Greenland and broader trade tensions, has rattled markets and reinforced precious metals' appeal as a hedge against economic instability.
Silver, Axis Securities said, has broken out of a multi-year consolidation phase, signaling the early stages of a long-term structural uptrend
Hold on to some gold, but don't chase prices higher. Use dips below US$3,700/oz to add. Consider increasing exposure to silver ETFs or mutual funds as a tactical play.
Silver outlook continues to remain constructive on rate cut expectations, huge ETF inflows, elevated geopolitical and economic risks. Strength in gold bodes well for silver.
Strong ongoing rally in Chinese equities is mostly positive for the grey metal. CSI33 Index has rallied over 27 per cent from its April low.
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.
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 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)
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
With a constrained supply growth and rising industrial usages, silver is mostly headed for a fifth straight year of deficit in 2025
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
Spot silver at the time of the MCX closing was trading at $33.67, down around 0.10 per cent on the day.