Silver Dropped After Comments From U.S. Federal Reserve Officials Trimmed

Silver trading range for the day is 37520-38564.

Silver dropped after comments from U.S. Federal Reserve officials trimmed expectations that the central bank will lower interest rates by half a percentage point next month.

The U.S. dollar has been losing ground against its rivals on expectations the Federal Reserve may cut interest rates soon to bolster the world's largest economy.

The Fed signaled a dovish outlook on monetary policy last week, with bond markets expecting the U.S. central bank to cut interest rates by 75 basis points.

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