

COMEX Silver extended its strong bullish momentum, printing a fresh all-time high at $67.46/oz and closing the week at $67.15, registering a sharp +9.30% weekly gain. The upmove remains well-supported as prices continue to hold above the immediate support zone of $62–$60, which aligns closely with the 20-DEMA, indicating sustained short-term strength and strong buying interest on dips.
MCX Silver Futures witnessed an early and rally during the week, surging by +4,343 points and forming a strong bullish Marubozu candle on the daily chart. Prices scaled a high of 208,603 and closed near the highs at 208,439, clearly establishing strength above all key moving averages. The 20-, 50-, 100-, and 200-DEMA are placed at 187,540, 170,565, 154,408, and 137,223 respectively, confirming a well-defined long-term uptrend structure. Open Interest increased by +2,700 lots alongside price rise, indicating fresh long build-up and participation from the bullish side. Momentum indicators continue to support the ongoing rally. RSI is trading in the upper band (around 75), reflecting strong bullish momentum while remaining consistent with trending-market behavior, while the broader structure continues to form higher highs and higher lows.
Gold/Silver Ratio (Mint Ratio) has slipped to a fresh low at 64.52, marking a -13% decline, which clearly highlights Silver’s outperformance against Gold. The next key support for the ratio is seen near 62.06, reinforcing the relative strength bias in Silver.
The overall trend remains decisively bullish. Traders may continue to adopt a buy-on-dips strategy, while keeping an eye on short-term overbought conditions near upper levels.
| Support 2 | Support 1 | CMP | Resistance 1 | Resistance 2 |
|---|---|---|---|---|
| 192,500 | 200,000 | 208,000 | 215,000 | 222,000 |
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Prediction given by Technical Research Team - Choice.



