Silver On MCX Settled Down -0.38% At 39645 As Investors Flocked To U.S. Treasuries

Silver on MCX settled down -0.38% at 39645 as investors flocked to U.S. Treasuries rather than bullion, amid concerns over a global trade war ratcheting higher. 

U.S. President Donald Trump threatened to impose a 20% tariff on all U.S. imports of European Union-assembled cars, escalating trade tensions with Europe. 

News reports suggested that companies with 25% or more Chinese ownership may be banned from buying US businesses with “industrially significant technology”. US new home sales jumped 6.7% to a seasonally adjusted annual rate of 689,000 units in May, the highest level since November 2017.

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