STARINDIA Research MCX Bullion UPDATE

UPDATE:-

KINDLY BOOK PARTIAL PROFIT SILVER BUY CALL , AT CMP 40194

 silver

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COMMODITY OUTLOOK on Silver Market

Silver:-

Silver futures rose nearly one percent in American trade away from the lowest since August 8 as the dollar index bounced off the highest since July 26 following earlier data from the US the world’s largest economy. Federal Reserve Bank of New York President William Dudley presented a speech titled The Monetary Policy Outlook and the Importance of Higher Education for Economic Mobility at the Council for Economic Education in New York where he expressed his surprise at the long period inflation has steadied below the targeted 2% adding that the Fed will go on with its gradual policy tightening. Dudley forecast increases in spending levels and investments in the next period, while expecting inflation to edge up abruptly in the medium term. The Silver is in long- term bull phase .Currently Silver is in strong downtrend with good momentum but volume is unsatisfactory the open interest is not increasing with trend. Noting point is selling at lower levels seems decreasing. The oscillator is showing sell signal for short term Silver is in sell position. Support for the Silver is 38700.Resistance for the Silver is 39900.

silver

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Commodity Market Trading – Gold, silver slip in morning trade

Gold and silver were trading lower in morning trade on Tuesday following subdued demand of precious metals amid firm equity markets and the US dollar.

MCX Gold futures were down 0.60 per cent, or Rs 176, at around Rs 29,381 per 10 gram around 10.28 am (IST), while MCX Silver futures were down 0.45 per cent, or Rs 176, at Rs 39,281 per 1 kg at around the same time.

gold-silver-slip-in-morning-trade

On the further movement of gold, Angel Commodities said, “We expect gold prices to trade lower on Tuesday on account of stronger dollar index while the possibility of the rate hike this year by the US Fed are push factors in the near term.”

Domestic financial markets were closed on October 2 on account of Gandhi Jayanti.

SMC Investments and Advisors said, “Bullion counter may continue to remain on weaker path as stronger greenback and fear of fed rate hike in December meeting may keep prices under selling pressure. Gold sales during Navratri and Dussehra halved this year as fear of the taxman’s scrutiny of prosperous customers cast a shadow on the festive spirit, leaving jewellers sombre in the peak period of their business.”

Movement of rupee will give further direction to the prices. “Gold can move in range of Rs 29,500-29,800 per 10 gram while silver can move in range of Rs 39,000-39,600 in near term,” SMC said.

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COMMODITY OUTLOOK on Silver Market

Silver:-

Silver futures slumped nearly one percent in American trade away from the highest since April 19 for the tenth session out of 16 and marking the lowest since August 16 as the dollar gained ground following earlier data from the US the world’s largest economy. Earlier US data showed personal income and spending slowed down in line with expectations in August while Chicago PMI rose unexpectedly in September as the final reading for the UoM consumer sentiment survey fell more than expected this month. Earlier this week Federal Reserve Chair Janet Yellen warned from keeping interest rates at their current low levels until inflation hits the Fed’s 2% target in turn rallying chances of a third Fed rate hike in December to 78% in financial betting markets and weighing on silver prices.

silver

 

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Commodity Outlook on Silver Market

Silver:-

Silver futures dropped in American trade as the dollar index edged higher, following an array of data from the US, the world’s largest economy, and after the Jackson Hole Symposium started in Kansas City.  Silver futures due on September 15 shed 0.30% to $16.972 an ounce from the opening of $17.060, while the dollar index shed 0.27% to 93.30 from the opening of 93.55. Earlier US data showed unemployment claims rose less than expected last week, while existing home sales fell unexpectedly in July, as Fitch Ratings warned that not raising the debt ceiling in the US in the appropriate time could push the agency to reconsider its credits ratings for US treasury bonds.

silver

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Commodity Outlook on Zinc Market

Zinc :

Zinc prices are following trend line from a long time and we can see that the price can pull back up to major support 176. Sustaining on overbought zone, pullbacks can be we are expected in Zinc. From last week we can see that there were some corrections taking place. This can lead to 176 handle. Analysts said the weakness in zinc at futures trade was mostly attributed to trimming of positions by speculators amid a weak trend at the domestic spot markets but firm overseas trend capped the losses

zinc 5

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Commodity Outlook on Silver Market

Silver:-

Silver gained amid rising tensions between US and North Korea after the North responded to warnings from U.S. President Donald Trump.The productivity of U.S. workers accelerated a bit in the second quarter as economic growth accelerated but remains well below historical averages.U.S. jobs data came in better than expected, while investors awaited U.S. inflation figures later this week for further clues about the pace of interest rate rises. On upper end 39750 will be first resistance and 38200 will be the initial support for the shining metal

silver

 

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