Protected: Massive Rally in MCX Silver Next Week, Target 5,000 Points
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Precious metals speculators yet again increased their net long positions in the Silver (XAG/USD) futures markets sharply last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Silver futures, traded by large speculators, hedge funds and retailers, totaled a net position of 62198 contracts in the data reported through September 24, 2024. This was a weekly gain of 4000 net contracts and took net longs to four and half year high.
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MCX Silver Tips [12 September, 2024]: As Expected MCX Silver Kiss High 87,300. My Final Target is Rs. 86,550. White Metal fully target hit.
MCX Silver Price Target: Silver yesterday settled up by 0.21% at 68684 as retreating U.S. Treasury yields and a softer dollar bolstered the metal’s appeal.
Aluminum price: surged to the highest in almost three years, leading gains in base metals as Chinese trade data buoyed the outlook for demand.
NICKEL MCX TIPS TODAY – BUY BETWEEN 1317—1316 TARGET 1324—1332 SL PAID. Nickel prices on Friday fell by 0.41 per cent to Rs 1,297.50 per kg in futures trade after participants offloaded their positions amid weak demand in spot market.
Gold prices in India have corrected sharply from record highs hit earlier this month. In futures markets gold currently trades at ₹51,400 levels per 10 gram as compared to August 7 highs of ₹56,200.
Silver MCX 67500 To 73254 = 5754 Point Up
Gold MCX 51300 To 52100 = 800 Points Up
Gold Silver Tips Today – Spot gold was up 0.4 per cent at $1,936.64 per ounce by 0316 GMT (8:46 am in India). US gold futures rose 0.6 per cent to $1,943.20 per ounce.