Silver tumbles tracking gold prices

Previous week Silver outperformed Gold in a margin of 0.38 percent on an average. Spot Silver settled at $29.92, narrowed down by 0.97 percent from the prior.
COMEX March contract lost 0.33 percent on intraday basis to close at $30.00 whereas, MCX March contract marginally lost 0.06 percent to settle at Rs.45480.
Asian equities trading in green hunched for a bigger risk from investors kept them silent from precious metal.
Silver holdings came down to 10388.45 tons from 10,370.22 tons in the i-share Silver.
Participation was pretty low for the last week while fresh position taken by investors came down by 2.54 percent on MCX platform March contract.
OUTLOOK
Spot Silver price is currently trading flat around $29.98; down by 0.08 percent. Base metals as a group currently showing good signal which may further boost Silver demand and as Asian equities trading with confidence, Silver may see an upsurge today.
Silver which normally moves against Gold may not be true this week as gold being pretty volatile on the greenback of global equities.
The Dollar Index is currently trading at 78.415, down by 0.20 percent. Economic outlook overall seems good to support for Silver’s industrial demand with a stronger side from other precious metals (Palladium, Platinum). Overall it is recommended to buy at dips with a forward outlook for the day.

(Source: http://www.commodityonline.com/futures-trading/technical/Silver-tumbles-tracking-gold-prices-21914.html)