Wednesday, 1 August 2018

EPIC RESEARCH MCX Silver UPDATE OF 1 August 2018

Silver trading range for the day is 37816-38690.

Silver remained under pressure as stronger dollar and rising interest rates weighed on the metal.

Fed is expected to keep interest rates unchanged, but solid economic growth combined with rising inflation are likely to keep it on track for another hikes.

U.S. consumer spending increased solidly in June, building a strong base for the economy heading into the third quarter, while inflation rose moderately.

The Conference Board consumer confidence index increased marginally to 127.4 in July from 127.1 in June.

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