Silver On MCX Settled Down -1.32% At 39396 As The Dollar Added To Gains

Silver on MCX settled down -1.32% at 39396 as the dollar added to gains, denting demand for the metal despite the increased risk of an escalating trade war as U.S. tariffs on Chinese imported goods are expected to come into effect later this week. 

The dollar resumed its climb higher as traders increased their bets that the U.S. economy would fare better in a trade war than some of its trading peers ahead of U.S. tariffs on $34 billion worth of Chinese imported goods slated for July 6.

The U.S. economy is growing at a 4.1 percent annualised rate in the second quarter in the wake of the latest data on construction spending and manufacturing activity, the Atlanta Federal Reserve’s GDPNow forecast model showed.

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