International News
Silver sees modest gains, but overall bearish tone persists
Silver (XAG/USD) sees modest gains, trading around $30.15 during Tuesday’s(Apr 8) Asian session. Despite the uptick, the overall bearish tone persists, as reflected in technical indicators and broader market sentiment.
Investors appear to be locking in profits or covering margin positions amid global trade tensions, which continue to weigh on risk appetite. However, a weaker U.S. dollar may help cushion silver’s downside, given its status as a USD-denominated asset.
From a technical standpoint, silver remains under pressure below the 100-day Exponential Moving Average (EMA). The 14-day Relative Strength Index (RSI) hovers around 32.70, below the neutral 50 mark, reinforcing the bearish momentum.
Key support lies at the psychological $30.00 level. A break below this could expose further downside towards $28.80 — the December 20, 2024 low — followed by $28.31, the low from April 7.
On the upside, immediate resistance is seen at $30.85, the January 21 high. A sustained move above this level could open the door to $31.77 (100-day EMA), with further bullish extension toward $33.20 — the February 20 peak.
In a landmark moment for the Indian jewellery industry’s expanding global footprint, Sky Gold & Diamonds Ltd. proudly inaugurated its state-of-the-art Sky Souk Office & Experience Centre at Experience Centre Experience Centre , Dubai Gold Souk Extension.
The inauguration was conducted by Tamjid Abdullah, Joint Managing Director, Jawhara Jewellery, and attended by eminent industry leaders including John Paul Alukkas, Managing Director, Joyalukkas Jewellery – International Operations; K.P. Abdul Salam, Vice Chairman, Malabar Group; and Rajesh Jain, Partner, Siroya Jewellers LLC.
Adding to the momentous occasion were Darshan Chauhan, Mahendra Chauhan, and Akash Talesara, President, Sky Gold & Diamonds Ltd., along with the entire Sky Gold & Diamonds team.
This milestone underscores the brand’s commitment to blending Indian craftsmanship with global luxury sensibilities, positioning Sky Souk as a hub for innovation, artistry, and strategic B2B collaboration within Dubai’s dynamic jewellery landscape.
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