MCX Silver Tips Today: Hit All Target 63200 to 63950 Enjoy — Neal Bhai Reports
Silver failed in the 30.00 region and is seen slipping back towards support at 21.87/64.
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MCX Silver Tips Today: Hit All Target 63200 to 63950 Enjoy — Neal Bhai Reports
Silver failed in the 30.00 region and is seen slipping back towards support at 21.87/64.
Silver and gold price are rising more than 1% on Wednesday, recovering after posting sharp losses during two consecutive days. A modest decline in US yields, a correction of the US dollar, month-end flow, and some profit-taking favored the rebound.
Gold Price Forecast: Q1 is not winding down in the way that many Gold bulls had imagined, myself included. For the past two weeks Gold prices have been stuck in a fairly consistent albeit relatively small trading range, spanning about 2% of Gold spot price as a couple of Fibonacci levels have helped to define this mean reversion.
Is Silver bullish or bearish? – Silver prices are licking its wounds after reaching the lowest levels in two weeks just below the $25 threshold.
Allegations of ongoing physical silver supply issues are reaching a crescendo this week as individual investors report difficulty in redemptions of unallocated silver positions from some major mints. In fact, even COMEX is significant demand for delivery with over 30 million ounces of silver having been withdrawn from their depository warehouse in the early part of 2021.