EPIC RESEARCH MCX SILVER UPDATE OF 28 AUGUST 2018

Silver trading range for the day is 36865-37405. Silver gained boosted by short-covering and as comments from the head of Fed signalling a gradual approach to interest rate hikes weighed on dollar. Fed Chair Powell made the case that gradual rate hikes were the best way to protect U.S. economic recovery, keep job growth strong and inflation under control. Prices has lost its appeal as a safe-haven asset recently as investors turned to dollar instead amid recent international trade disputes and the Turkish currency crisis.

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