Silver trading range for the day is 39394-40422.
Silver dropped as the US dollar rebounded as investors digested testimonies from the lead US trade negotiator with China and the top ranking Federal Reserve official.
Powell said in the first of a two-day Congressional address at the Senate Committee on Banking that the U.S. economic outlook was "generally favorable"
U.S. President Trump said that a trade deal “could happen fairly soon” if U.S. and China could bride remaining differences, although it is possible that “it might not happen at all.”
Investor sentiment began to improve after Trump announced the postponement of a closely watched March 1 deadline to increase tariffs.
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