Friday 23 May 2014

CAPITAL STROKE COMMODITY UPDATE 23 MAY 2014: MCX SILVER

SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-43500 R1-42500 S1-39000 S2-37500
Silver prices seen supported after the U.S. Federal Reserve indicated no intention to raise interest rates soon.
Fes’s minutes revealed U.S. central bank plans to continue tapering its monthly bond-buying program and rely on other tools to normalize monetary policy.
Holdings at ishares silver trust dropped by 0.35% i.e. 35.86 tonnes to 10284.40 tonnes from 10320.26 tonnes.

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