Spot silver prices are off 18 per cent from their recent highs, making commodity investor jittery. From a high of Rs 1,77,794 per kg in the spot market (Ahmedabad), silver rate has fallen to Rs 1,45,967 per kg. Apurva Sheth, Head of Market Perspectives & Research at SAMCO Securities, said silver had entered overheated territory and that the euphoria among retail participants was a classic sign of a short-term top. The latest chart of Silver futures (MCX) now confirms that view, he said. Advertisement

"After a spectacular rally from Rs 1,10,000 to Rs 1,70,000 per kg, silver has formed a textbook Head and Shoulders pattern, a well-known reversal formation that typically signals exhaustion after a sharp uptrend. Prices have already broken below the neckline, with current levels near Rs 1,

See Full Page