Buy Silver Sep @ 92000 SL 91500 TGT 92800-93500. MCX - Kedia Advisory
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SILVER
Observations
Silver trading range for the day is 91650-93920.
Silver dropped as dollar firmed and investors reacted to weak economic data from China.
Investors geared up for a key political meeting in China where top officials are expected to tackle reforms and modernization plans.
Industrial demand for silver, driven by green energy, AI and EVs, now accounts for 64% of global silver consumption.
In 2023, the supply for silver came short of demand by 142 million ounces, while this shortfall is expected to nearly double to 265 million ounces this year.
BUY SILVER SEP @ 92000 SL 91500 TGT 92800-93500. MCX
