SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-42000 R1-40500 S1-38000 S2-36500
Silver dropped as rupee firmness weighed despite a cut in IMF’s global growth forecasts fuelling concerns over the world economy.
Pressure also seen after upbeat U.S. jobs data boosted the dollar and stocks.
Fed minutes released expressed concern the rising dollar could slow a needed rebound in inflation, and also highlighted economic turmoil in Europe and Asia.
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