SILVER MARKET UPDATE NEWS
Silver on MCX settled up 1% at 41096 amid jitters ahead of President-elect Donald Trump’s first news conference since his election victory on Wednesday. Bullion has been well-supported in recent sessions after minutes from the Federal Reserve’s December meeting unsettled investors’ expectations about the pace of future interest rate hikes. A delay in raising interest rates would be seen as positive for gold, a non-interest-bearing asset, and negative for the dollar.
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Trading Ideas
Silver trading range for the day is 40227-41753.
Silver prices rallied amid jitters ahead of President-elect Donald Trump’s first news conference since his election victory on Wednesday.
Richmond Federal Reserve President Jeffrey Lacker, will retire from his post in October, the Richmond Fed said in a statement.
The market is looking for more clues on Trump's spending plans in the first news conference since his shock election win in November.
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