prices recovered from lows with investors making cautious moves, weighing earnings reports and economic data from across the globe. German business morale deteriorated in April, bucking expectations for a small improvement, a business index by the Munich-based Ifo economic institute showed, as trade tensions weighed on the German economy, leaving domestic demand to support slowing growth.
A wave of better-than-expected earnings results from U.S.-listed companies this week and strong U.S. housing data were cited as putting pressure on the precious metal. The US will send a high-level trade delegation to Beijing next week for talks that will begin on April 30, the US Press Secretary Sarah Huckabee Sanders said in a statement. Following those talks, the Chinese Vice Premier Liu He will lead a delegation to Washington for further discussions that will begin on May 8.
A Commerce Department report showed that new home sales in the U.S. unexpectedly jumped to their highest level in well over a year in the month of March. The report said new home sales surged up by 4.5% to an annual rate of 692,000 in March after soaring by 5.9% to a revised rate of 662,000 in February. With the unexpected spike, new home sales reached their highest annual rate since hitting 712,000 in November of 2017.
Markets are now awaiting U.S. GDP data for the fourth quarter, due on Friday. Technically market is under long liquidation as market has witnessed drop in open interest by -12.29% to settled at 13461 while prices down -25 rupees, now Silver is getting support at 37258 and below same could see a test of 37060 level, And resistance is now likely to be seen at 37651, a move above could see prices testing 37846.
For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
or visit http://www.ways2capital.com
✆ - 0731-2428906 | Toll Free - 1800-123-2353
Give a Missed Call for Free Trial - 09699997717
No comments:
Post a Comment