Silver On MCX Settled Up 0.16% At 40044 After U.S. Data Showed The U.S. Economy

Silver on MCX settled up 0.16% at 40044 after U.S. data showed the U.S. economy slowed slightly more than initially expected in the first quarter while political uncertainty lingered in Italy.

Prices traded in a range as signs the Italian crisis was abating reduced safe-haven demand, triggering risk-on sentiment, offsetting support from a plunge in the U.S. dollar index.

Safe-haven demand eased as hopes emerged for the formation of an elected coalition government in Italy after Italy’s designate Prime Minister Carlo Cottarelli was reportedly mulling “new possibilities” to form a government.

For more information Call us ✆ +91 9111-179961 or Visit Dollar Advisory