Breaking News
0

Silver May Trade In Range Between 37754-38372

By CommodityOnline (Commodity Online)CommoditiesAug 10, 2018 12:42
in.investing.com/analysis/silver-may-trade-in-range-between-3775438372-200204168
Silver May Trade In Range Between 37754-38372
By CommodityOnline (Commodity Online)   |  Aug 10, 2018 12:42
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Technically now Silver is getting support at 37940 and below same could see a test of 37754 levels and resistance is now likely to be seen at 38249, a move above could see prices testing 38372.

Silver on MCX settled up 0.47% at 38127 as softer-than-expected inflation indicators eased concerns over an acceleration of rate hikes from the Federal Reserve ahead of the consumer price index out on Friday.

Producer price inflation for July was unchanged from the previous month, with the annualized increase easing from 3.4% to 3.3%, according to data. Still, market participants were likely to remain cautious as they await the release of the more widely followed consumer price index for July.

Markets have priced in a rate hike for the Fed’s next meeting in September and the probability of an additional hike in December has been hovering around 70%. Russia condemned a new round of U.S. sanctions as illegal on Thursday and said it had begun working on retaliatory measures after news of the curbs pushed the rouble to two-year lows over fears Moscow was locked in a spiral of never-ending sanctions.

Japan’s economy expanded at an annualised rate of 1.9 percent in April-June, bouncing back from a contraction in the previous quarter, government data showed on Friday, in a sign its recovery momentum remained intact.

China’s producer price index (PPI), a gauge of factory gate inflation, rose 4.6% in July from a year earlier, compared with an acceleration of 4.7% in June, data from the National Bureau of Statistics showed. On a monthly basis, the PPI rose 0.1% in July, compared with a 0.3% growth in June. The consumer price index (CPI) rose 2.1% from a year earlier in July, faster than June's 1.9% growth.

Trading Ideas:
--Silver trading range for the day is 37754-38372.
--Silver gained as softer-than-expected inflation indicators eased concerns over an acceleration of rate hikes from the Federal Reserve ahead of the consumer price index.
--Producer price inflation for July was unchanged from the previous month, with the annualized increase easing from 3.4% to 3.3%, according to data.
--Still, market participants were likely to remain cautious as they await the release of the more widely followed consumer price index for July.

Silver May Trade In Range Between 37754-38372
 

Related Articles

Silver May Trade In Range Between 37754-38372

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email