SELL Silver Jul @ 272500 SL 275000 TGT 269000-267000. MCX - Kedia Advisory
Gold
SELL GOLD JUN @ 159800 SL 160800 TGT 158500-157500. MCX
Observations
Gold trading range for the day is 157455-161015.
Gold dropped as uncertainty surrounding the Middle East conflict and persistent inflation concerns weighed on sentiment.
Trump says "good chance" of nuclear deal with Iran
Traders see 38% chance of a US interest rate hike this year
Minutes of Fed's April policy meeting due on Wednesday
Silver
SELL SILVER JUL @ 272500 SL 275000 TGT 269000-267000. MCX
Observations
Silver trading range for the day is 260170-281640.
Silver fell pressured by inflation fears and expectations of higher U.S. interest rates.
Markets reacted cautiously to President Donald Trump’s remarks hinting at possible progress toward a peace agreement with Iran
Investors are now awaiting the latest FOMC minutes and flash US PMI readings for additional signals on the outlook for monetary policy.
UBS strategists also slashed their full-year silver investment demand forecast to 300 million ounces from over 400 million ounces.
