Silver Trading Range For The Day Is 38241-39101

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Silver on MCX settled down -0.29% at 38577 on profit booking tracking weakness in base metals after prices gained as dollar slid on less hawkish than expected rate hike view from Fed. The Federal Reserve raised interest rates but stuck to its forecast for two more hikes this year.

 

Trading Ideas: 

 

* Silver trading range for the day is 38241-39101.

 

* Silver dropped on profit booking tracking weakness in base metals after prices gained as dollar slid on less hawkish than expected rate hike view from Fed.

 

* The Federal Reserve raised interest rates but stuck to its forecast for two more hikes this year.

 

* Expectations for a slower pace of rate hikes tend to buoy prices, which struggles to compete with yield bearing assets when interest rates rise.

 

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