Silver stays under pressure as analyst sees $48 retest
In short
Silver stayed under pressure after falling below $54.50, according to Praveen Singh of Mirae Asset Sharekhan. He said silver needs to move back above $55 to calm the selling.
The move matters for silver traders because the analyst sees more weakness if the price does not recover. The headline also points to a possible retest of $48.
What the reporting says
Silver remained under significant pressure after breaking below support of $54.50, according to Praveen Singh of Mirae Asset Sharekhan. The analyst said a sustained recovery above $55 is needed to ease the current selling, and the headline says inflation and rate-hike worries may limit gains and could lead to a retest of $48. The source provides a technical view and a downside risk scenario.
Why it matters
Silver stayed under pressure after breaking below support at $54.50, and Praveen Singh of Mirae Asset Sharekhan said a move back above $55 is needed to ease selling. The headline adds that inflation and rate-hike worries may limit gains and that silver may retest $48. This is relevant for silver traders and commodities investors watching price support and downside risk.