“BUY SILVER ABOVE 34000 TG 34250,34500 SL
34650”
Silver: Silver was up 0.6 percent at $13.92 an
ounce. U.S. retail sales fell in December as unseasonably warm weather undercut
purchases of winter apparel and cheaper gasoline weighed on receipts at service
stations, the latest indication that economic growth braked sharply in the
fourth quarter. The growth picture was further darkened by other data on Friday
showing industrial production fell in December, dragged down by cutbacks in
utilities and mining output. Business inventories were also weak, posting their
biggest drop in just over four years in November.
Outlook
:We expect silver prices
to trade positive on the back of China’s growth concerns. Technical Outlook:
Silver Mar
S2 S1 : 33600 33900
Close : 34054
R1 R2 : 34300 34600
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