In international markets, Silver prices last traded near 36 USD per an ounce. Silver prices are likely to fall further and may test 35-34 levels in the near future.
MCX Silver future prices have fallen by more than 23 percent in last two months. On MCX, Indian commodity exchange, Silver prices are likely to touch levels of 52000-50000 in the near future.
Support for the said contract is seen at 51500 and below it; prices can test 50500 while the resistance levels are seen at 54500 and 56000 respectively. In the near term, MCX July Silver prices are likely to trade in a range of 51000-56000.
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