Tuesday, 1 September 2015

Today Silver Market Update By MarketMagnify

Silver settled up 0.7% at 35333 as the dollar weakened, but expectations the Federal Reserve could go ahead with an interest rate increase this month kept gains in check. Bullion ended August 3.5-percent higher as worries over China's slowing economy sparked safe-haven bids that proved fleeting as the metal has come off a seven-week top. Investors also weighed some hawkish comments from Federal Reserve Vice Chairman Stanley Fischer in the recent past, indicating a real possibility of a interest rate hike in September.
Silver trading range for the day is 34630-35844.
Silver prices ended with gains after the dollar weakens as investors looked ahead to Friday’s U.S. jobs report for August
Fischer said that the case for a rate increase in September was "pretty strong", though it was still too soon to say what the central bank might do.
Fed’s Fischer suggested that the door was still open for a rate hike at the Fed's next meeting due to take place September 16-17.

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