Silver On MCX Settled Up 0.58% At 39804 On A Weaker Dollar Despite Upbeat U.S.

Silver on MCX settled up 0.58% at 39804 on a weaker dollar despite upbeat U.S. economic data suggesting inflationary pressures were building, raising the prospect of further rate hikes.

While the ISM non-manufacturing paid index rose to its highest since 2017, adding to a recent string of positive data suggesting inflationary pressures were gathering momentum.

U.S. services sector activity accelerated in May, pointing to robust economic growth in the second quarter, but trade tariffs and a shortage of workers posed a threat to the outlook.

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