Commodities Weekly Tracker
Monday | August 26, 2013
Silver
Weekly Price Performance
• Spot Silver prices gained around 3.2 percent in the last week, taking cues
from rise in gold prices.
• The white metal gained 5 percent on the MCX and touched a weekly high of
Rs.53620/kg on Friday before closing at Rs.53469/kg.
• Positive economic indicators from the Euro Zone, UK and the US have revived
hopes of recovery in the advanced economies.
ETF Performance
• The iShares Silver Trust rose last week by 0.3 percent to 10,555.70 tonnes as
on 23rd August 2013.
• On a year-to-date basis, holdings have gained around 4.6 percent while on a
monthly basis the holdings have jumped by more than 1 percent.
Factor affecting the silver prices
• Rise in gold prices.
• Increase in ETF holdings.
• Favorable economic data from major global economies.
Outlook
• A positive trend is expected in case of silver during the week and factors like
increase in ETF holdings and overall supportive sentiments towards precious
metals will be positive.
• In the Indian markets, Rupee depreciation will be an additional supportive
factor.
Weekly Technical Levels
• Spot Silver: Support $23.43 /$22.77 Resistance $24.60/$25.30. (CMP:$23.95)
• Buy MCX Silver September between 52,200-52,100, SL-51,400, Target -
55,100. (CMP: Rs.53,532)
18
20
22
24
26
28
30
32
38,500
43,500
48,500
53,500
58,500
MCX and Comex Silver Price Performance
MCX-Near Month Silver Futures -Rs/ k
Monday | August 26, 2013
Silver
Weekly Price Performance
• Spot Silver prices gained around 3.2 percent in the last week, taking cues
from rise in gold prices.
• The white metal gained 5 percent on the MCX and touched a weekly high of
Rs.53620/kg on Friday before closing at Rs.53469/kg.
• Positive economic indicators from the Euro Zone, UK and the US have revived
hopes of recovery in the advanced economies.
ETF Performance
• The iShares Silver Trust rose last week by 0.3 percent to 10,555.70 tonnes as
on 23rd August 2013.
• On a year-to-date basis, holdings have gained around 4.6 percent while on a
monthly basis the holdings have jumped by more than 1 percent.
Factor affecting the silver prices
• Rise in gold prices.
• Increase in ETF holdings.
• Favorable economic data from major global economies.
Outlook
• A positive trend is expected in case of silver during the week and factors like
increase in ETF holdings and overall supportive sentiments towards precious
metals will be positive.
• In the Indian markets, Rupee depreciation will be an additional supportive
factor.
Weekly Technical Levels
• Spot Silver: Support $23.43 /$22.77 Resistance $24.60/$25.30. (CMP:$23.95)
• Buy MCX Silver September between 52,200-52,100, SL-51,400, Target -
55,100. (CMP: Rs.53,532)
18
20
22
24
26
28
30
32
38,500
43,500
48,500
53,500
58,500
MCX and Comex Silver Price Performance
MCX-Near Month Silver Futures -Rs/ k
