MCX SILVER MARKET NEWS

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Silver on MCX settled up 0.93% at 40565 after advancing overnight as investors awaited the Federal Reserve’s monetary policy statement for fresh guidance on the future path of U.S. interest rates. Slowing silver supplies combined with firm manufacturing and investment demand could give silver prices strong support in 2016.

The Fed said short-term interest rates remain unchanged and suggested a gradual path for future interest-rate increases. As U.S. economic data have improved, traders have begun to reconsider the possibility of a rate rise at the next meeting, scheduled for June.


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                   Trading Ideas

  1. Silver trading range for the day is 39842-41260.

  2. Silver extended gains after advancing overnight as investors awaited the Fed’s monetary policy statement for fresh guidance on the future path of U.S. interest rates.

  3. Slowing silver supplies combined with firm manufacturing and investment demand could give silver prices strong support in 2016.

  4. Pending home sales in the U.S. rose more than expected in March, bolstering optimism over the health of the housing sector, industry data showed.   

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