SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-46500 R1-45000 S1-42000 S2-40500
Silver futures sparked a sharp rally in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as deepening geopolitical tensions boosted the safe haven demand for the bullion. NATO warned of a Russian invasion in Ukraine as President Putin massed troops across the country’s western border with Ukraine.
At MCX, closed at Rs. 43,920 per 10 grams, up by 1.24 per cent, after opening at Rs. 43,498, against the previous closing price of Rs 43,381. It touched an intra-day high of Rs 44,183.
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