BUY SILVER DEC @ 232000 SL 230000 TGT 235000-237000. MCX - Kedia Advisory
SILVER
BUY SILVER DEC @ 232000 SL 230000 TGT 235000-237000. MCX
Observations
Silver trading range for the day is 229160-237750.
Silver dropped as the U.S. dollar stayed firm amid bets the Federal Reserve will announce another hike in interest rate this year.
Federal Reserve's Williams said another rate hike before year-end would be reasonable.
Strong PMI data and hawkish comments from several Federal Reserve officials including Fed Chair Warsh pushed up the dollar.
Uncertainty about Strait of Hormuz reopening and trade worries too contributed to dollar's upmove.
