SELL SILVER BELOW 40100 TARGET 40000-39900-39700 WITH SL 40430
Silver trading range for the day is 39690-40124. Silver futures were trading higher during the afternoon trade in the domestic market on Tuesday taking positive cues from the global market. Market analysts said a firm trend in precious metals in global market mainly attributed to the rise in silver prices at the futures trade.
At the MCX, silver futures for December 2017 contract was trading at Rs 40233 per kg, up by 0.73 %, after opening at Rs 39,980, against a previous close of Rs 39,940. It touched the intra-day high of Rs 40,272.
Silver on MCX settled up 0.87% at 39940 supported by a dip in the dollar as an uptick in geopolitical uncertainty increased demand for safe-haven but growing expectations that the Federal Reserve will hikes rates for the third time this year capped gains.
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