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SILVER

Silver trading range for the day is 62705-65617.

Silver dropped as dollar strengthened amid flight to safety due to increasing tensions between US and Russia and ahead of the Fed's policy decision.

The IHS Markit US Manufacturing PMI fell to 55 in January of 2022 from 56.7 in December, well below forecasts of 56.7

Speculators cut net long U.S. dollar bets to lowest since mid – Sept 2021 – CFTC

Investors expect the first Fed hike in March and the bets are rising that it may be bigger than 25 basis points

BUY SILVER MAR 2022 @ 63600 SL 63100 TGT 64400-65200.MCX

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