Tuesday, 4 July 2017

EPIC RESEARCH MCX SILVER UPDATE OF 04 JULY 2017

Silver trading range for the day is 37093-39181. Silver fell pressured by a sharp uptick in U.S. bond yields in the wake of upbeat manufacturing activity suggesting that U.S. economic growth remained robust. Better than expected manufacturing data fuelled U.S. rate hike expectations, underpinning a move higher in U.S. bond yields, lessening demand for bullion. Hedge funds and money managers reduced their net long positions in COMEX silver for the third straight week in the week to June 27, CFTC data showed.

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