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Last week MCX Silver closed at Rs 29548 with marginal decline and Silver also witnessed marginal decline to close at Rs 54191.

The bullion market has started the first day of week with positiveness. Comex Gold Silver are trading up nearly 0.50% and 1% respectively as an effect, domestic market also opened with positive note. Gold is trading above 29600 level and it may target 29750-29900 level today while silver is heading towards 55000 level if it manages to prevail 54600 level.

Silver seems to have immediate Resistance near 55000 level and support at 54350. Any trade beyond either side would decide the intraday trend of this precious metal.


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