MCX Silver Silver prices closed positive on weekly note on Friday, as investors gambled on the safe-haven asset to hedge in contradiction of the economic influence of the coronavirus outburst. Chinese experts on Thursday informed about 121 new demises and 5,000 new coronavirus cases in China, and economists scrambled back growth prospects for the world's second-major economy as they measured the influence of the outburst. Further supporting bullion's price rise, U.S. Treasury yields dropped after soft retail sales facts amongst virus worries. U.S. consumer spending seems to have slackened more in January, which increases worries about the economy's capability to remain growing at a reasonable pace.
MCX Silver closed 0.93% higher at 46225 on Friday on the raising concerns of coronavirus over China. Silver opened marginally higher at 45819 during session it made a high of 46289 and low of 45740 levels. As per Bollinger band on the hourly chart Silver is closed above median line and it made a low below its median level in the early hours. On hourly charts RSI is at 68.14 which indicate positivity in the silver prices. Today Silver can be trade in the range of 45880 to 46464 during the session.