India: Silver trades up on global cues

The spot silver has gained more than half a percent from its prior day’s closing to settle at $37.67 levels. The same has been observed in futures in the COMEX and MCX division.
COMEX Silver May future lost due to favorable data releases from the US.
The Asian equities closed green. Announcement from the Irish regulators to raise 24 billion Euros following a stress test hampered FTSE while DJIA lost due to a higher than expected jobless applications.
The dollar index closed by losing 0.16% supported the metal to add values. The I-share silver holdings is counted to its current holdings of 11139.52tons as on 30th March.
Outlook:
The COMEX May future is currently quoting $37.63, down by 0.68% from the previous closing. The Asian equities are trading mostly in positive.
As discussed in gold’s outlook, the precious metals may remain highly volatile ahead of the US non farm payroll data which is likely to be fair for the economy. Besides, acceleration in Chinese PMI manufacturing despite a hike in reserve requirement is clearly indicating a positive outlook for the economy. Hence precious metals may remain under pressure following equities greenness and a better economic outlook for the US economy.
So, we may expect volatility in the metal’s movement ahead of the US releases.

(Source: http://www.commodityonline.com/futures-trading/technical/India-silver-trades-up-on-global-cues-22957.html)