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MTECHTIPS:- SILVER
Silver was steady as no cues regarding when Spain would ask for bailout and uncertanity of bailout package for Greece. Contracting manufacturing PMI in Euro zone and China is pressuring silver prices. However it was supported by better than expected Spanish GDP. ishares silver trust, the world’s largest silver backed ETF holdings remained unchanged at 9923 tons on Monday. Outlook : Silver prices are expected to trade with negative bias and later take cues from US economic data and news flow from Euro zone 7 Economic data.
Silver was steady as no cues regarding when Spain would ask for bailout and uncertanity of bailout package for Greece. Contracting manufacturing PMI in Euro zone and China is pressuring silver prices. However it was supported by better than expected Spanish GDP. ishares silver trust, the world’s largest silver backed ETF holdings remained unchanged at 9923 tons on Monday. Outlook : Silver prices are expected to trade with negative bias and later take cues from US economic data and news flow from Euro zone 7 Economic data.
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