25-09-2024 04:44 PM | Source: LKP securities Ltd
Quote on Silver by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
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Below the Quote on Silver By Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Silver prices surged past Rs.90,000 in the physical market, reaching Rs.90,324, as per IBJA rates, with Comex Silver surpassing $32, following a sharp rally of 4.25%. In MCX, Silver prices rose by 3.45% yesterday, taking prices above Rs.92,000. This bullish movement comes amid strong expectations for further U.S. interest rate cuts and China unveiling aggressive stimulus measures. China's central bank announced its most substantial stimulus since the pandemic, while Fed's Desk hinted at many more rate cuts over the next year. Traders now see a many more instance of another 50 bps cut by the Federal Reserve in November, further boosting precious metal prices."
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