Buy Silver Jul @ 272000 SL 269000 TGT 276000-278000.MCX - Kedia Advisory
Gold
BUY GOLD JUN @ 159000 SL 158000 TGT 160500-161500. MCX
Observations
Gold trading range for the day is 157030-161870.
Gold prices edged up as hopes for a resolution to the Iran conflict pressured oil markets, relieving some inflation fears.
Trump again says the war with Iran would end "very quickly"
Investors see 48.6% chance the Fed could raise rates in December
Russia's gold reserves stood at 73.9 million troy ounces as of the start of May, down by 0.27% from start of April.
Silver
BUY SILVER JUL @ 272000 SL 269000 TGT 276000-278000. MCX
Observations
Silver trading range for the day is 263025-281915.
Silver rebounds as US Treasury yields pull back from recent multi-month peaks.
Fed’s Paulson said that policy is “mildly restrictive” and that such restrictiveness is helping to keep inflation pressures in check.
Markets are increasingly pricing in the likelihood of a Fed rate hike by year-end.
UBS strategists also slashed their full-year silver investment demand forecast to 300 million ounces from over 400 million ounces.
