Tuesday, 30 July 2019

Silver Prices Traded In Range As The Dollar Gained Some Ground

Silver trading range for the day is 40971-41373.

Silver prices traded in range as the dollar gained some ground against most major currencies ahead of next week's monetary policy meeting of the Federal Reserve.

U.S. gross domestic product increased at a 2.1% annualized rate in the second quarter, above forecast of 1.8%.

While U.S. money market futures price in a total of almost 75 basis points of cuts by the end of the year to 1.5-1.75 percent.

Hedge funds and money managers increased their net long position in silver futures and options, CFTC data showed.

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