COMEX Silver futures prices outlook november 25 2011

COMEX Silver futures prices outlook november 25 2011 : COMEX Silver trades weaker Friday after the sharp drop on Wednesday. Weighing on silver prices is rangebound movement in gold and weakness in industrial metals. Strength in US dollar is putting pressure on dollar denominated commodities. Also weighing on prices is weaker investment interest. Silver holdings with Ishares ETF stand at 9627.88 tonnes. This is the lowest holding with the fund seen since July 12.

MCX Silver may note some decline tracking cues from international exchange. COMEX Silver trades lower amid weakness in gold and industrial metals on back of strength in US dollar. Also weighing on silver prices is drop in ETF holdings indicating waning investment interest. Support for MCX Silver Dec. contract is seen at Rs.54100 while Resistance is seen at Rs.56400. For the latest updates PRESS CTR + D or visit Stock Market news Today

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