Buy Silver DEC @ 72000 SL 71400 TGT 72800-73200. MCX - Kedia Advisory
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SILVER
Observations
Silver trading range for the day is 71200-74280.
Silver dropped as dollar index firms at 6-month high Pressure seen amid expectations of higher-for-longer interest rates as the US economy is doing much better than other major economies.
The ISM Services PMI in the US unexpectedly rose to a six-month high in August while PMIs for China and Europe disappointed.
Fed is expected to maintain interest rates steady this month, and the likelihood of a 25bps increase in November currently stands at 47%.
BUY SILVER DEC @ 72000 SL 71400 TGT 72800-73200. MCX
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