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PRECIOUS-Silver attempts rebound even as retail sweep wanes

    Feb 3 (Reuters) - Silver prices attempted a rebound on
Wednesday after an over 8% plunge in the previous session
prompted some buying, although the social media-driven rally
that started last week appears to have cooled off. 
    
    FUNDAMENTALS
    * Spot silver        rose 1.4% to $26.98 an ounce by 0052
GMT. Prices hit $30.03 on Monday, its highest since February
2013.
    * Silver rocketed to their highest since 2013 on Monday
after small investors responded to calls on Reddit and other
social media to pile into the market and push prices
up.            
    * The amount of silver traded in the London market surged to
1.006 billion ounces on Monday, three times the level typical in
recent months, the London Bullion Market Association said on
Tuesday.             
    * The United States Mint said on Tuesday it was unable to
meet surging demand for its gold and silver bullion coins in
2020 and through January.             
    * However, CME Group on Monday raised margins on its COMEX
5000 Silver Futures by 17.9%.                 
    * Spot gold        rose 0.1% to $1,839.16 per ounce. U.S.
gold futures        added 0.4% to $1,840.90.
    * U.S. Treasury Secretary Janet Yellen said on Tuesday new
growth forecasts from the Congressional Budget Office showed the
United States "desperately" needs Congress to act on President
Joe Biden's coronavirus rescue package.             
    * Platinum        gained 0.3% at $1,097.52 and palladium
       shed 0.1% to $2,240.49.
    
DATA/EVENTS AHEAD (GMT)
0500  India    IHS Markit Serv PMI           Jan
0600  Russia   Markit Services PMI           Jan
0700  UK       Reserve Assets Total          Jan
0850  France   Markit Serv, Comp PMI         Jan
0855  Germany  Markit Serv, Comp Final PMI   Jan
0900  EU       Markit Serv, Comp Final PMI   Jan
1000  EU       HICP Flash YY                 Jan
1000  EU       HICP-X F&E Flash YY           Jan
1300  Brazil   Markit Serv, Comp PMI         Jan
1445  US       Markit Serv, Comp Final PMI   Jan
1500  US       ISM N-Mfg PMI                 Jan

 (Reporting by Sumita Layek in Bengaluru; Editing by Krishna
Chandra Eluri)
  
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