MCX Silver is expected to trade with a positive bias on Tuesday evening on the back of weakness in the US dollar and taking cues from upside in Gold prices.
The Indian Rupee may appreciate today and this may restrict gains in the precious metals on the domestic bourses, informed Amrita Mashar, analyst with Commodity Online.
Taking cues from rise in gold prices coupled with upside in base metals pack, MCX Silver prices rose around 2 percent on Monday. Along with this, weakness in the US dollar index, upbeat market sentiments acted as a positive factor for the white metal prices yesterday.
Silver touched an intra-day high of 32.90 dollar per ounce and closed its trading session at 32.82 dollar per ounce on Monday. On the MCX, Silver May contract rose around almost 1 percent and touched an intra-day high of 57,930 rupees per kilogram before closing at 57,731 rupees per kilogram in yesterday's session.
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