At the Globex platform Silver is seen trading down by $0.80 at $35.44 and the dollar index at present is showing some feebleness against the majors. The Asian equities are trading at a lower side.
As discussed in gold’s outlook, anticipation over the activities of big fund managers to unwind their positions are prompting traders to square off their position also.
From 9th May again the initial margin requirement is going to be increased which is also leading speculators to unwind positions. Decline in ETF holdings by 4.78% in a single day is indicating a negative sentiment to investment in silver.
Data yet to release from the US are mostly expected to be positive which may pressurize the metal to come down further. However a depreciated rupee may restrict some losses.
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