Outlook: MCX Silver can rally to Rs 88,500; focus on US nonfarm payroll

Quick Summary:

Silver futures had gained 2 per cent in Thursday's trading session amid rise in the US yield.

US import price and export price indices (April) were elevated as the readings topped the forecast.

Hawkish Fedspeak and elevated inflation are likely to cap the upside in the metal; thus, a minor correction is not ruled out.

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Category: BusinessFinance

Markets: IndiaIsraelSouth Africa

Topics: Mcx silver prices Silver trading strategies Silver price outlook MCX Silver support Silver international prices Resistance levels Silver support resistance levels

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Article Type: News Report

Published On: 2024-09-06 @ 14:07:33 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 737 words

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News ID: 22389616

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