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MCX SILVER TIPS BY NEAL BHAI
- MCX SILVER ABOVE 90500 (Buy Zone)
- Silver Target Price 94,000—95,000
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- SL (Stop Loss) PAID
- Need Practice
The Federal Reserve’s (Fed) hawkish shift keeps a lid on any meaningful appreciation for the Gold price. In fact, the Fed signaled that it would slow the pace of interest rate cuts in 2025. This remains supportive of elevated US Treasury bond yields, which should act as a tailwind for the USD and cap the upside for the non-yielding bullion. Traders also seem reluctant ahead of this week’s release of FOMC meeting minutes and the closely-watched US Nonfarm Payrolls (NFP) report on Wednesday and Friday, respectively.
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