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Select momentum oscillators like the 14-day RSI and the weekly Stochastic Slow are in favour of the bulls for the Silver. Hence, a sharp pull-back from the near support level of Rs 61,800-odd levels cannot be ruled out.

In case, Silver breaks below Rs 61,800, then a fall to Rs 60,800-level may be possible.

On the upside, in case, Silver is able to sustain above Rs 61,800 - a counter rally to Rs 63,800-odd level is also possible.

Today, Silver MCX March futures may seek support around Rs 61,900-61,770-61,635, and on the upside Silver is likely to face resistance Rs 62,750-62,880-63,000.

The corresponding key levels for Silver Micro February futures are as follows - support around Rs 61,920-61,790-61,650, while resistance around Rs 62,760-62,890-63,020.

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The US production of Copper increased to 292000 tonnes in the third quarter ending September 2012. The production of Copper was higher compared to 276000 tonnes in second quarter this year.
United States Geological Survey (USGS) said that the total Copper production was up by 30000 tonnes to 846000 tonnes between first and third quarter of 2012. The production was up from 816000 tonnes in between January-September 2011.
LME Copper three month forward was trading at $ 7770 per tonne, compared to $ 7805 per tonne on 27 November 2012. Indian metal futures will remain open for the evening session only due to Gurunanak Jayanti. MCX Copper February expiry settled at Rs 438 per kg, down 0.22%.

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Crude oil futures are trading lower in Asia electronic trades today as there is lack of cues in the market.
Most Asian markets rallied Friday, buoyed by signs of an improvement in global manufacturing, with mainland Chinese stocks rebounding from a drop the previous day.
Preliminary readings from HSBC Thursday showed China’s Purchasing Managers’ Index rose to 50.4 in November, signaling the first expansion in more than a year. HSBC data released during the European day also showed that while the region’s factories remained in contraction, business their conditions improved to an eight-month high.
Hong Kong’s Hang Seng Index rose 0.4% after a lower start, China’s Shanghai Composite climbed 0.6% and South Korea’s Kospi added 0.3%, while Singapore’s Straits Times Index inched up 0.1%, staying on course for a five-day winning streak.
Dow Jones Industrial Average futures rose 30 points, or 0.2%, to 12,830 after Thursday’s Thanksgiving holiday.
Crude oil futures for January delivery traded at $87.12 a barrel at down 0.26% on the New York Mercantile Exchange. It earlier traded at a session low $86.71 a barrel.
US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, fell 0.17% to trade at $80.70.
MCX December crude oil futures may open today’s session near Rs 4830 levels with support near Rs 4800 levels.

Commodity Trading Updates

New European passenger car registrations continued their downward trend, falling for the twelfth straight month in September. Demand for new cars was down 10.8%, amounting to 1,099,264 units, compared with September 2011. Nine months into the year, the downturn reached 7.6%, with a total of 9,368,327 new cars registered in the EU.

In September, the EU recorded a total of 1,099,264 new cars, or 10.8% less than in the same month a year ago. Looking at the major markets, the British was the only one to expand, while Germany (-10.9%), France (-17.9%), Italy (-25.7%) and Spain (-36.8%) all faced a double-digit downturn according to Brussels-based European Automobile Manufacturers' Association, or ACEA

From January to September, the EU market shrank by 7.6%, compared to the first nine months of 2011. Results were diverse across markets, as the UK posted growth (+4.3%), while Germany saw its demand fall by 1.8% and Spain (-11.0%), France (-13.8%) and Italy (-20.5%) contracted more severely.