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Silver extending its search for $24 ahead of Wednesday Fed rate call
The price of Silver has recovered from the recent backslide into the $22.30 region, reclaiming $23.20 in Monday trading. Commodities are broadly turning higher ahead of the Federal Reserve (Fed) rate call on Wednesday, where the Federal Open Market Committee (FOMC) is expected to hold rates at 5.5%. Silver's bullish turnaround to get support from a Fed holding pattern The Fed’s recent rate hike cycle has left Silver to tumble to the floor as the United States (US) central bank lifts rates to combat an intense inflationary environment. As interest rates and the US Dollar (USD) have soared, the XAG/USD has struggled, ... (full story)
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- Posted: Sep 18, 2023 3:07pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 58
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