The recent jump in Silver is looking a bit shaky on this count and unless Copper spurts sharply, traders would be starting to question the logic behind such a massive rise in Silver prices.
The COMEX Gold futures are trading at $ 1,334.60 per ounce on the day. This upmoev should boost local Gold futures today.
Silver is trading on a gung-ho note, Gold, Platinum, Crude Oil and Brent Oil are the other notable gainers.
Further losses can take the prices towards Rs 3,200 and Rs 3,150 per barrel.
The resistances have fixed towards Rs 332 and Rs 335 per kg.
On the higher side Rs 31,400 and 31,420 per 10 grams are the cap to watch out for.
MCX Gold August futures closed around Rs 31,300 levels yesterday and should slide towards Rs 31,100 mark today.
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Hot Commodities: COMEX Silver soars to 20 month high