Buy Silver Dec @ 86600 SL 86000 TGT 87400-88000. MCX - Kedia Advisory
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SILVER
Observations
Silver trading range for the day is 83470-89110.
Silver gains on expectations of a U.S. Federal Reserve rate cut next week
Wholesale prices in the US increased 0.2% month-over-month in August 2024, above forecasts of 0.1%.
The ECB cut its interest rates, saying lower inflation and economic growth were allowing it to take its foot off the brake slightly.
Markets now see an 85% probability that the Fed will reduce rate by 25 basis points at the upcoming meeting, with just a 15% chance of a larger 50 bps reduction.
BUY SILVER DEC @ 86600 SL 86000 TGT 87400-88000. MCX
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