Gold Silver Reports – Silver MCX Sell Karna Mana Hai, Silver MCX Outlook By Neal Bhai Trading Zone 39220-40442 —— Technically now Silver is getting support at 39220 and below same could see a test of 38732 levels and resistance is now likely to be seen at 40170, a move above could see prices testing 40442.
Silver MCX Sell Karna Mana Hai
Silver prices pared gains in profit booking after prices gained amid report of slow economic growth pushed the U.S.dollar lower, days after the greenback was hammered by a senior U.S. official backing a weaker currency.
The dollar remained on track to post weekly losses, however, amid data showing durablegoods and US economic growth undershot forecasts. Weaker economic data, meanwhile, did little to support safe-haven demand as the US economycooled in the fourth quarter of the year, while durable goods fell short of estimates.
Gross domestic product increased at a 2.6% annual rate in the October-December period, the Commerce Department said. The Commerce Department in a separate report said non-defense capital goods-orders excluding aircraft, a closely watched proxy for business spending plans, fell 0.3% in December after an upwardly revised 0.2% increase in November.
US GDP grew 2.6% in the fourth quarter according to the first reading, down from 3.2% in the third quarter, and missing expectations of 3%, whilepersonal spending accelerated to 3.8% from 2.2%, beating forecasts of 3.7%.
GDP prices rose 2.4% from 2.1% in the third quarter, above forecasts of 2.3%, while core personal spending accelerated to 1.9% in line with expectations from 1.3% in the third quarter. – Neal Bhai Reports
