Silver On MCX Settled Down -0.62% At 39641 On Profit Booking

Silver on MCX settled down -0.62% at 39641 on profit booking after prices seen supported as uncertainty over a major U.S. tax reform bill continued to weigh on the dollar, while geopolitical tensions lingered.

Markets were also jittery as Saudi continued to conduct an anti-corruption purge among the highest levels of the establishment.

The dollar was on track for weekly losses after dropping on disappointment with a tax bill put forth by U.S. Senate Republicans that would delay expected corporate tax cuts.

The dollar fell on reports that Senate Republicans on Thursday will propose delaying a cut in the corporate tax rate from 35% to 20% until 2019.

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