Sell Silver SEP @ 247000 SL 251000 TGT 242000-239000. MCX - Kedia Advisory
SILVER
SELL SILVER SEP @ 247000 SL 251000 TGT 242000-239000. MCX
Observations
Silver trading range for the day is 240345-250735.
Silver rose as a subdued dollar supported demand for precious metals, while investors await US inflation data.
Prices gained after a US Treasury buyback support plan pushed the dollar to multi-month lows.
Markets are focused on the July PCE price index due Wednesday and Warsh’s speech at the Jackson Hole Symposium on Friday.
Traders are currently pricing in roughly a 36% chance of a rate hike in September, compared with a 64% probability of rates remaining unchanged
