SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-47500 R1-46000 S1-43000 S2-41500
Silver futures ended higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market amid hopes that the US Federal Reserve may continue to keep interest rates near record low levels for a long time, boosting the appeal of the bullion as a store of value.
At the MCX, Silver futures for July 2014 contract closed at Rs. 44,494 per 1 kg, up by 0.11 per cent, after opening at Rs. 44,311, against the previous closing price of Rs. 44,445. It touched an intra-day high of Rs 44,970.
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