Silver On MCX Settled Up 0.28% At 39228 As The Dollar Fell Sharply - Dollar Advisory | Best Commodity Tips Provider

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Monday 2 July 2018

Silver On MCX Settled Up 0.28% At 39228 As The Dollar Fell Sharply

Silver on MCX settled up 0.28% at 39228 as the dollar fell sharply on the back of a resurgent euro, paving the way for bullion prices to pare some of its recent losses but gains in prices were limited by mostly upbeat U.S. economic data, reaffirming investor expectations for a faster pace of rate hikes.
 
Investors liquidated bullion to cover margins and sought safe havens in U.S. Treasuries and the dollar amid a looming U.S.-China trade war. 

Expectations that the U.S. Federal Reserve would increase interest rates twice more this year further pressured prices.

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