Precious metals prices showed some profit booking on higher levels on Wednesday after U.S. Federal Reserve Chair Janet Yellen said that only "gradual adjustments to monetary policy were likely and stressed that global headwinds could hurt U.S. growth. Holdings of the largest silver backed exchange-traded-fund (ETF), New York's iShares Silver Trust SLV, stood at 9591.72 down 19.25 tonnes, from previous business day.
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PRECIOUS METALS:
Precious metals prices showed some profit booking on higher levels on Wednesday after U.S. Federal
Reserve Chair Janet Yellen said that only "gradual" adjustments to monetary policy were likely and
stressed that global headwinds could hurt U.S. growth. Holdings of the largest silver backed exchange-
traded-fund (ETF), New York's iShares Silver Trust SLV, stood at 9591.72 down 19.25 tonnes, from
previous business day.
ENERGY:
U.S. crude stockpiles fell unexpectedly last week as imports slumped, while gasoline inventories hit a
record high for a second week, data from the Energy Information Administration showed on
Wednesday. Crude oil prices slumped on Wednesday on mixed inventory data released by EIA.
BASE METALS:
Indonesia on Wednesday granted Freeport-McMoRan Inc a new six month export permit for
shipments from one of the world's largest copper mines, ending a near two-week stoppage due to a
dispute over payment for a new metal smelter. Copper ended lower on Wednesday.
MARKET WRAP
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SILVER
CALL: BUY SILVER MAR ABOVE 37350 TGT 37550, 37750 SL 37000
PICK OF THE DAY
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