MCX Silver Price Above 40200 No Selling @all, Keep Eye on MCX Hurdel ₹ 40924.
“No Magic, No Miracle, Just Power of Level”
Neal Bhai Reports (NBR) By CFA’s and MFA’s Technical Team INDIA
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Silver on MCX settled up 0.94% at 40791 as investors were uncertain whether the U.S. central bank would signal a tighter future monetary policy at a meeting. The U.S. Federal Reserve will likely raise its target interest rate to above the rate of inflation for the first time in a decade this week, seeking to sustain the second-longest U.S. expansion on record while continuing to edge rates higher.
U.S. inflation expectations were flat in May after several months of gains, while Americans grew more pessimistic about income and spending growth, according to a Federal Reserve Bank of New York survey.
U.S. President Donald Trump said his summit with North Korean leader Kim Jong Un in Singapore on Tuesday would show if a “real deal” could happen, as both sides sought to narrow differences over how to end a nuclear standoff on the Korean peninsula.
In additional to the Fed’s decision due on Wednesday, the European Central Bank (ECB) and Bank of Japan also have policy meetings this week. Bank of Japan policymakers will debate this week whether structural factors may be behind recent disappointingly slow inflation, which could force them to cut the central bank’s price forecasts at a quarterly review in July.
