Silver-Prices expected to remain under pressure on subdued demand, weak global market

摘要

Silver market witnessed roller coaster ride in the month of February with prices falling to three week low of $15,545 per troy ounce in second week of the month tracking weaker base metal complex. However, the fall was restricted as the metal received support from gold, which had witnessed an upward trend. Rise in gold prices led t silver to test a monthly high of $16,295 per troy ounce during the third week. However, these gains were not sustained in the last week of the month wherein the prices plunged to six week low witnessing biggest weekly decline. Surge in the dollar index on hopes of trade deal between US and China added negativity to the market. At the beginning of the month, the movement in the silver market was restricted on account of China market remaining closed due to New Lunar Holidays.