AHMEDABAD (Commodity Online): Having witnessed a straight bull run since last few days, precious metals quietly supported optimistic global cue. Both the precious metals, Silver and Gold, rallied to a weekly high on Thursday morning trades.
MCX Silver started on positive note this morning at MCX Counter as the prices held up 0.10 percent and tested high at 41971 per kilogram amid a considerable sell off in the US Dollar.
Robust demand for precious metals at Spot market and dull Dollar index moment weighed on Gold and Silver to stay on green region. Silver rose to higher levels for a second day, as the US dollar extended losses and increasing investor demand for the precious metal as an alternative investment, informed Amrita Mashar, analyst with Commodity Online.
"Ahead of US Economic data which release this weekend may put pressure on precious metals. In case of economy distress, I am expecting that Silver price may rise till 45,000 in near term", added Mashar
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