AHMEDABAD (Commodity Online): Silver May delivery contract surged by 0.55 percent to trade at a three-day high of 56175 rupees per kilogram on firmer equities and continuous buying sentiment.
Today, Bullion and metals prices were volatile as investors prepared for the end of a volatile quarter, with crude oil rising on continued unrest in Libya, Gold falling on tighter monetary policy talk.
“Metals price drop to day low after tracking moderate gain in choppy market. Investors and traders in international market remain calm due to US nonfarm payrolls data due this weekend,” said Amrita Mashar, analyst with Commodity Online.
Technically, Silver trend looks positive for this week. Silver future expected to reach up to 57,200 in coming trading session on strong industry demand and short term supply tightness. On account of weak US nonfarm payrolls number, precious metals expected to touch week high levels in ongoing weekend.
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