India silver rises on industrial demand

Silver prices along with Gold traded higher yesterday and were the second best among the precious metal group. The Spot silver traded higher with making a high of $30.91 and settled at $30.62 levels.
The similar movement was also witnessed in Indian with making a high of `46683 and a low of `46130 and settled at `46390, gaining by 0.51%.
U.S equities ended little down but close to their high. The DJIA ended at 12226.64 points (-0.34%).
Silver gained by around 0.54% per cent where the base metals as a group ended in downside made Silver volatile. The cousin sister of Silver snatched the first position on the persistent view of rising inflation hedge.
Outlook
Asian equities are currently showing confidence but some UK data is expected in the Asian hours which are expected to be good.
Base metals are likely to be in downtrend today based on which Silver may loose its rally. However the P-V-O analysis has showed the bullishness in the MCX may contract.
Gold/Silver Ratio: Gold outperformed Silver yesterday and the same is expected for today also. US building permit data is likely to be negative which may affect the industrial demand for Silver.
Overall, with a comparison to the yellow metal, Silver seems to be less lucrative although in longer term scenario may change.

(Source: http://www.commodityonline.com/futures-trading/technical/India-silver-rises-on-industrial-demand-21975.html)