Buy Silver Jul @ 86600 SL 86000 TGT 87500-88200. MCX - Kedia Advisory
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Silver
Observations
Silver trading range for the day is 85825-88305.
Silver gains as dollar fell after a batch of economic data reinforced the view the Fed has room to cut interest rates this year.
Initial jobless claims fell for a second week but continuing claims rose to 2021-highs.
Fed Bowman reiterated her baseline view that "inflation will decline further with the policy rate held steady."
Traders are currently pricing in about a 62% chance of a rate cut in September, according to CME FedWatch Tool, opens new tab.
BUY SILVER JUL @ 86600 SL 86000 TGT 87500-88200. MCX
