Silver prices eased on Tuesday as it continued to shadow gold. On MCX, the September contract opened at Rs25,101/kg and went on to touch its days low at Rs25,055/kg. It touched a high of Rs25,352/kg and was last traded (14:32 IST) at Rs25,100/kg on Tuesday.
“Internationally gold will see a support level coming in at $17.80/oz below which it’s a good buy option. The resistance for the metal is seen around $18.40/oz,” said VP and country head of Karvy Comtrade, Ashok Mittal.
The London silver was fixed at $17.56/oz on Tuesday.
Silver continued to track gold throughout on Tuesday, but decoupled as gold eased ahead of the New York close which was supported by a 1.2% gain in LME copper prices said a Standard Bank report.