Gold Silver Reports (GSR) – New York Fed President John Williams said the Federal Reserve “will be likely raising interest rates somewhat.” The recent winning streak began when Fed Chairman Jerome Powell warned last Wednesday of slowing demand abroad, fading fiscal stimulus at home and the lagged economic impact of the Fed’s past rate increases, suggesting that a pause in tightening may well come in 2019.
Adding to that interpretation, Fed Vice Chairman Richard Clarida told that the rates were currently near neutral levels, while Dallas Fed President Robert Kaplan also said that he expected a growth slowdown in Europe and China.
Markets still expect the Fed to undertake its fourth rate hike this year at its next meeting in December, but the remarks seemed to suggest a more cautious central bank in the face of uncertainty over the global economy and the current trade dispute between the U.S. and China.
Technically Silver Report is getting support key @36420 and below same could see a test of 36010 levels and resistance key @36980, a move above could see prices testing 37432.
Read More: MCX Gold Strong Support 30578 any Rise Sell
Bank of England governor Mark Carney on Tuesday backed UK Prime Minister Theresa May’s EU withdrawal plans and warned a no-deal Brexit would be the “worst outcome”.
In a hearing with members of Parliament on the Treasury Select Committee, he said that the central bank welcomed “the transition arrangements in the withdrawal agreement” and noted the “possibility of extending that transition period”.
