MCX Silver negative on selling pressure in global markets
Silver futures on India’s Multi Commodity Exchange (MCX) is in negative territory on selling pressure in international market. However, depreciation of Indian rupee against US dollar limited the down side movement of MCX silver prices.
The futures was down by 1.05 percent at Rs.59236 per kilogram.
“MCX silver has strong psychological resistance at the level of 60,000. Also, if futures fail to break 60000 level, then it is a signal to move back towards 58600 level,”