Silver Dropped As Firmness In Rupee Weighed On MCX

Silver trading range for the day is 35270-36170.

Silver dropped as firmness in Rupee weighed on MCX as the U.S. dollar weakened on investors’ expectations of a slowdown in interest rate hikes.

The chairman of the U.S. Federal Reserve, Jerome Powell, said that rates are “just below” the neutral level now.

Powell’s comments suggest that 2019 may be more of a wait-and-see approach and the assumption of any hikes may be premature.

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