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Published on 14/06/2018 10:21:37 AM | Source: Kedia Commodity Ltd

Buy Silver Jul 2018 @ 40500 SL 40300 TGT 40750-40950 - Kedia Commodity

Posted in Commodities Reports| #Kedia Commodity Ltd #Commodity Tips

GOLD

Gold prices remained steady as investors waited for clues on the pace of future interest rate hikes by the U.S. Federal Reserve when its policy meeting. The Federal Reserve forecast two more U.S. rate increases this year after raising rates, although lingering worries over trade tensions between Washington and Beijing prevented steeper losses. The Federal Reserve raised interest rates, a move that was widely expected but still marked a milestone in the U.S. central bank's shift from policies used to battle the 2007-2009 financial crisis and recession.

The central bank saw two more rate hikes in 2018 for a total of four and three increases in 2019. U.S. producer prices increased more than expected in May, leading to the biggest annual gain in nearly 6-1/2 years, the latest sign of a gradual building up of inflation pressures. U.S. President Donald Trump will meet with his top trade advisers on Thursday to decide whether to activate threatened tariffs on billions of dollars in Chinese goods, a senior Trump administration official said. Trump said that North Korea no longer poses a nuclear threat and his top diplomat offered a hopeful timeline for a "major disarmament," despite skepticism at home that Pyongyang will abandon its nuclear weapons following this week's summit.

The European Central Bank will debate whether to end its huge asset purchases by year-end, in what would be its biggest step towards dismantling crisisera stimulus credited with pulling the euro zone economy out of recession. Technically market is under long liquidation as market has witnessed drop in open interest by -1.92% to settled at 6015, now Gold is getting support at 31105 and below same could see a test of 31066 level, And resistance is now likely to be seen at 31185, a move above could see prices testing 31226.

SELL GOLD AUG BELOW 31140 SL ABV 31220 TGT 31056-30970. MCX (STBT)

SILVER

Silver on MCX settled up 0.18% at 40766 on dollar weakness but gains were limited ahead of a meeting of the U.S. Federal Reserve and on clues of future interest rate hikes this year. The Federal Reserve raised interest rates, a move that was widely expected but still marked a milestone in the U.S. central bank's shift from policies used to battle the 2007-2009 financial crisis and recession. The central bank saw two more rate hikes in 2018 for a total of four and three increases in 2019.

The move higher in the prices emerged as better-thanexpected U.S. wholesale inflation data failed to attract a bid in the greenback, which languished near session lows, increasing demand for prices. The Labor Department said its producer price index for final demand increased 0.5% last month, topping expectations for a 0.3% rise. In the 12 months through May, the PPI rose 3.1.% after rising 2.6% in April. Against the backdrop of strong U.S. economic growth, spurring expectations for a faster pace of U.S. monetary policy tightening, safe-haven assets such as gold and, to a lesser extent silver, are losing their attractiveness.

The European Central Bank will debate on Thursday whether to end its huge asset purchases by year-end, in what would be its biggest step towards dismantling crisis-era stimulus credited with pulling the euro zone economy out of recession. Technically market is under short covering as market has witnessed drop in open interest by -2.24% to settled at 14109 while prices up 75 rupees, now Silver is getting support at 40584 and below same could see a test of 40403 level, And resistance is now likely to be seen at 40935, a move above could see prices testing 41105.

BUY SILVER JUL 2018 @ 40500 SL 40300 TGT 40750-40950.MCX

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