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Silver bears looking for a significant retracement

From fxstreet.com

XAG/USD was ending at the closing bell higher by 1.33% overnight. The white metal rallied from a low of $24.9692 to a high of $25.6185 but is now trading down 0.1% in early Asia. It was a weak dollar story overnight as traders take note of the Federal Reserve's dovishness. At the March meeting, the median forecast of Fed policymakers showed that the central bank did not expect to raise interest rates until 2024, as shown by yesterday's minutes. Overnight, Fed's Chair Jerome Powell reiterated the dovishness. ''Speaking at the IMF conference, Powell said that the Fed is very concerned about how the pandemic has hit ... (full story)

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  • Category: Technical Analysis