Silver price in India has breakthrough its all-time high level and traded with Bullish trend, managed to settled at 100,738, having surged by +4.88% in past weeks. On the other hand, Comex Silver spot has inclined by +5.90% in previous two weeks, closed at $33.83 / ounces.
Silver rallied alongside gold, breaching key levels as escalating geopolitical tensions and growing Fed rate-cut expectations bolstered safe-haven demand. A sharp equity market sell-off further eroded risk appetite, amplifying flows into precious metals. Meanwhile, China’s 5% GDP growth target for 2025, backed by fiscal stimulus and real estate stabilization, has reinforced demand for industrial metals—providing additional support to silver’s upward momentum.
Like Gold, Silver price has continue to trade with upward momentum forming a Rising channel formation alongside trading over all key moving averages i.e. 50, 100 and 200-DMA levels placed at 88838, 82729 and 74458 respectively. Daily SAR is placed at 88602. Looking at OI, OI levels has been inclined along side a recent price rise, currently at 22960 lots which signifies bullish biasness in Silver price. RSI levels remains over 65 levels on Daily as well as Weekly chart. Key hurdle would be at 101,999 breaching of this level will accelerate bull run.
We expect that Silver price may trade with Moderately Bullish trend and traders may look forward for Buy-on-dips opportunity from the key levels for upcoming weeks.
Silver View | Support 1 | Support 2 | Resistance 1 | Resistance 2 | CMP |
---|---|---|---|---|---|
Level | 95,000 | 88,838 | 101,999 | 107,000 | 100,761 |
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Prediction given by Technical Research Team - Choice.