Silver may fall further before finding a bottom, says Anmol Silver CEO
Bullish strength: 25/100
- Lower silver prices are attracting customers back to jewellery stores ahead of Diwali.
- Roonwal expects investment demand for bullion and coins to improve at lower price levels.
- Silver has found some support near ₹1.92 lakh on MCX.
Bearish strength: 75/100
- Roonwal expects silver prices to fall further and believes the bottom has not been reached.
- Potential downside targets are ₹1.75-1.80 lakh on MCX and ₹1.80-1.85 lakh in the physical market.
- Higher US interest rates, rising crude oil prices and geopolitical uncertainty are weighing on precious metals.
- The recent rebound lacked strength, with silver giving up gains during the trading session.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.