Buy Silver Dec @ 155500 SL 154500 TGT 156500-157500. MCX - Kedia Advisory
SILVER
BUY SILVER DEC @ 155500 SL 154500 TGT 156500-157500. MCX
Observations
Silver trading range for the day is 153770-158720.
Silver rose as dovish comments from Federal Reserve officials strengthened expectations for a near-term interest rate cut.
Markets now price in an 81% chance of a 25 basis point cut next month, up sharply from 42.4% a week ago.
LBMA inventories rose to 844 million ounces in October from 790 million ounces in September – their highest level in a year.
Another 7.6 moz of silver left COMEX warehouses last week, reducing total inventories to 462 moz, the lowest level since March.
