The silver bubble busted badly and came down to 32 level. Few days before it was trading at 49 level which was marked as 52 week high at that moment. Currently it is trading at its 52 week low level, taking the clues from the global market. The fear of monetary policy tightening in China & the strengthening of Dollar index has led the free fall of the global commodity market without any big rally. China, being the biggest importer of commodities, are likely going to hike their interest rate to tackle inflation which is well above their comfort zone.
The news directly affected commodity market as demand of Silver & other commodities will go for a toss if China production dampens.
Hence the question rises whether it is the right time to but silver or not?
According to my view this is the best time to enter into silver market. If silver breaches 32 level then it may came down to 26-28 level. So buying in every dips is advisable because the price level is offering an attracting price to enter. A further averaging can be done in down level if price breaches 30-32 level keeping in mind that the upside potential is huge for this particular metal.
