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Silver futures flat at Rs 67,600 per kg on muted global cues

Silver holdings in iShares ETF were unchanged at 17,650.65 tonnes. The fund NAV is trading at a discount of 0.53 percent.

Mumbai / April 30, 2021 / 03:27 PM IST


Silver prices were steady at Rs 67,600 per kg on April 30 as participants rolled over their long positions as seen by the open interest. The precious metal had fallen 0.1 percent yesterday on COMEX.

The white metal traded in a narrow range after a gap-down start in the afternoon session tracking subdued global cues.

The precious metal has been trading higher than 50, 100 and 200 days’ moving averages but lower than the 5 and 20 days’ moving average on the daily chart. The momentum indicator Relative Strength Index (RSI) is at 49.85 which indicates sideways movement in prices.

Silver has benefitted from improving demand outlook amid optimism about the US and Chinese economy and pickup in manufacturing activity globally.