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Tuesday, 23 October 2018

EPIC RESEARCH MCX Silver UPDATE OF 23 October 2018

Silver trading range for the day is 38443-39053

Silver traded in range as investors prepared for Friday’s data on U.S. third-quarter growth, while monetary policy decisions from ECB will also be closely watched.

Investors braced for the peak of the U.S. earnings season while angst over Saudi Arabia, Italy and Brexit kept geopolitics front and centre.

Prices have been boosted by weaker stock markets and heightened geopolitical risks, which underpinned safe-haven demand for bullion.

Investors will also be getting an update on the health of the U.S. housing market, which has been hit by rising borrowing costs as a result of Fed rate hikes.

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