Silver slips below Rs 2.28 lakh amid global precious metals sell-off - Telangana Today

AI desk brief

Silver slumped more than Rs 7,000 on MCX, with December futures down 3.07% to Rs 2,27,494/kg, breaking below the key Rs 2.28 lakh level as the global precious-metals complex sold off. The move was driven by firmer crude, renewed inflation चिंता, higher US Treasury yields and a stronger dollar, all of which pressure non-yielding metals.

Technicals turned negative: immediate support is seen at Rs 2,27,000–Rs 2,28,000, then Rs 2,23,000–Rs 2,24,000, while resistance sits at Rs 2,32,000–Rs 2,33,000 and Rs 2,36,000–Rs 2,37,000. COMEX silver was near $62.40, below prior support at $63.50–$64.00 and testing $61.50–$62.00, with the market below the 20-, 50-, 100- and 200-day EMAs; USD/INR near 96 added an extra headwind for domestic prices.