Page 24 - Bullion World Volume 3 Issue 1 2023

Bullion World | Volume 3 | Issue 1 | January 2023

Technical View: Comex Silver –Continuous Futures:

The best time to buy a
CombiBarTM was 10 years ago.

Comex Silver continuous contract prices rose from the low of 17.40 The outlook for the next three to six The second best time is now.
has traded in channel pattern (point F) and was trading near the months remains range bound, where
formation since the high at 29.91 immediate resistance level of 25.50, a breakout on either side of
(Point A) in Aug 2020, and thereafter whereas strong resistance is seen at 24-26.20 could be the trend
it tested the low of 21.81 (point B). 26.20 levels. Silver needs to cross deciding. Immediate support is seen
Silver has made a lower top and this resistance range of 25.50- 26.20 at 24, with the next support at 21.50
lower bottom pattern. Silver could on a weekly closing basis for the and 18. Until the time the price
trade choppy between $16-$ 26.20 confirmation of the further positive trades below the resistance of 26.20
levels. Further crossover above trend to continue towards the next on a weekly closing basis, the trend
26.20 on weekly closing basis will resistances at $30 and $33-35. If remains negative.
indicate a breakout of the channel not, It could attract some selling
and will give a confirmation of the pressure towards the 24.70-25
further positive trend to continue in range. Above $25.50, the next
the near to medium term. Further, resistance is at 26.20.
as seen in the above chart, silver

New year message from Mr K Srinivasan, Chairman & MD
Emerald Jewellery Industry Limited

“The year 2022 has been a very good year for Emerald. In volume terms, our business in gold jewellery grew by 21%,
diamond business by 39%, platinum jewellery by 75%, and silver jewellery business grew by 48%. I thank our customers
for their trust and support in achieving the above results.

Going forward, I believe 2023 would also be very good. Although there are headwinds, we can find a way if we adapt
ourselves. Our plans for 2023 are as follows.
We plan to establish a modern factory in Chennai exclusively for chains, with the capacity to produce 8000 kgs. It would
have a new design and new weight range capabilities.

We will expand our Lab-grown diamond business with new designs and increase our volumes.
In Mangalsutra manufacturing, too, we plan to expand our volume and provide more design options.
To strengthen our technology, we will implement Microsoft D365, the first of its kind in the Indian manufacturing sector, in
2023. It would give us new design capabilities.
We would continue to work on skill development and design capabilities towards offering better products and services to
our customers.

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