Silver trading range for the day is 82420-87210

2024-09-06 10:00:17 am | Source: Kedia Advisory

Silver trading range for the day is 82420-87210 - Kedia Advisory

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SILVER

Observations

Silver trading range for the day is 82420-87210.

Silver rose fuelled by expectations of a deeper U.S. Federal Reserve rate-cutting cycle

Data showed that U.S. job openings dropped to a 3-1/2-year low in July, suggesting the labour market was losing steam.

Traders have fully priced in a Fed easing for next month, with a 57% chance of a 25-basis-point cut and an about 43% chance of a bigger 50-bp reduction

US employers announced 75,891 job cuts in August 2024, the most in five months

BUY SILVER DEC @ 84500 SL 84000 TGT 85300-85800. MCX

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Silver trading range for the day is 82420-87210 - Kedia Advisory

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