EPIC RESEARCH MCX Silver UPDATE OF 5 February 2019

Posted by Commodity Updates by Epic Research on 12:00:00 with No comments

Silver trading range for the day is 40078-40908

Silver settled flat as traders will be tracking movements in the U.S. dollar, and awaiting comments from a number of Federal Reserve officials.

U.S. job growth surged in January, with employers hiring the most workers in 11 months, pointing to underlying strength in the economy

Having signaled further interest rate rises as recently as December, the Fed, caught markets off guard by putting plans for further rate hikes on hold.

Hedge funds and money managers switched to a net long position in silver in the week to Dec. 18, the U.S. Commodity Futures Trading Commission said.

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