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Commodity Post Session News

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(15 Jun 2024, 13:29)

Weekly Silver Review: Silver Ends in Green; Falls to One-Month Low

Silver futures closed the week positively, marking their first gain in three weeks. Prices had dropped to a one-month low of $29 per ounce on Thursday due to the Fed's hawkish stance, despite weaker inflation data. The Fed projected only one 25bps rate cut this year. Dovish actions from the ECB, BoC, and expected cuts from the BoE and PBoC helped limit losses. The US imposed 50% tariffs on Chinese solar cell imports, impacting silver demand. MCX silver futures also ended slightly higher, recovering from the sharp fall from the lifetime high of Rs 94,494 per kg.
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