India silver settles higher on strong dollar index

The spot silver has gained 0.49% percent from its prior day’s movement to settle the week at $37.33 levels. However the futures in the COMEX and MCX retreated a bit. COMEX Silver May future lost due to favorable data releases from the US.
Global equities closed in positive by gaining modestly. The Asian equities however have outperformed the DJIA and FTSE. The dollar index’s gain put pressure on the metal to retreat.
The I-share silver holdings is counted to its current holdings of 11139.52tons as on 25th March.
Outlook:
The COMEX May future is currently quoting $37.18, up by 0.13%. The Asian equities are trading at a mix As discussed in Gold’s outlook, the bright economic outlook for the US may put pressure on the precious metal.
The housing sector slump from the US may create a negative impact upon the base metals which in turn may hamper silver’s rally. The likely gain in treasuries yield may hang upon the precious metals price rise.
Overall, we expect silver to trade in a negative bias on the back of equities and base metals likely weakness.

(Source: http://www.commodityonline.com/futures-trading/technical/India-silver-settles-higher-on-strong-dollar-index-22847.html)