Silver prices were flat to downside trimmed by firmer dollar. Fear of further ratings downgrade and euro zone debt could not help prices to move upside.
Silver remained choppy as much of the trading activity was not visible and light volumes existed ahead of the Christmas and New Year's holidays.
Industries too, around the globe are producing below than normal because of lower demand, owing to festive holidays. Silver is consolidating at these levels and may again find strength in the near term as the overall scenario is still in favor of bulls.
Gold-Silver ratio is standing at its multi-year low which suggests that silver may shine more than gold in percentage terms in near future.
E-Silver opened flat today. $28.70/oz may provide a strong support for white metal in coming days.
