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Thursday, November 3, 2011

MCX Silver Market Analysis Report and Technical Levels For Today

After Analysis the LONDON Metal Exchange Data and News for Silver I Expect Silver would trade upper side today. First Resistance near about Rs. 58000 and up from this level Rs. 59500 however the support for Silver Rs. 54200 down fron this level Rs. 52800.
On a company basis, over the first three quarters of the year, silver output at GoldCorp’s Penasquito mine in Mexico, has grown by a third y/y to 363 tonnes while output at the Fresnillo mine in Mexico has fallen by 1% over the same period to 724 tonnes, bank added.
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