Silver, as we mentioned in our earlier post, saw a sharp decline below 56500 level and it is now trading near 56500 level. Silver prices on MCX have seen a downfall of more than 3.5%.
Inability to prevail 55500 level on downside would cause Silver to slip further down to 55000-54500. Major resistance is seen near 56250.
Trdaers are advised to be cautious and go for buy in silver only after a lower level is sustained.
