Live Silver Updates and Trading Tips

Gold remaining sluggish for the day showing the sign of a drift positive movement while silver has to face a decline along with base metals and crude oils on the back of weak global cues. Gold on MCX has suffered nearly 2.40%. Though the technical charts showing a negative trend in silver but a pull back rally towards 56000 can not be ruled out. Technically, Seeing the today's momentum we can expect prices to drop down till 53800-53200. While for a strong upside trend, silver will have to breach 56000 level. The same is acting as a stiff resistance for this commodity. For day trading you can Sell silver at 54500 for the targets of 54200-53800. Do remember to keep strict stop-loss when you go for risky trading.