India silver surges on Middle East crisis

The spot silver has gained 2.42 percent from its prior day’s movement and ended at $36.12 levels. The same movement was seen on futures contract in COMEX and MCX and closed at $36.00 and Rs. 54062 levels respectively.
Silver prices moved in tandem with Gold as the Middle East tension aggravated.
Asian equities closed by gaining modestly while DJIA and FTSE also has added more than a percent respectively.
The weak dollar also fueled Silver demand as a safer bet. The I-share silver holdings is counted to its current holdings of 10960.39 tons as on 18th March.
Outlook:

The COMEX May future is currently quoting $36.295, up by 0.82%. With Asian equities performing positive, Silver may prompt to the gain.
As discussed in Gold’s outlook, the deteriorating Middle East unrest will be the main driving factor for the white metal to gain as haven.
Also the Precious Metals as a group are having support. However, the US housing data may react upon the Base Metals which may restrict the gain.
Overall, we expect silver to trade in a positive note with a restricted gain and so it is recommended to be on the long side for the metal.

(Source: http://www.commodityonline.com/futures-trading/technical/India-silver-surges-on-Middle-East-crisis-22726.html)