Spot Silver Day Trading Range : Sell on Rise Trend Down / MCX Silver Day Trading Zone: Selling on Rise Resistance @45233

Silver prices settled flat as traders paid close attention to the latest developments on the Sino-U.S. trade front after U.S. President Donald Trump warned China that he may raise tariffs even higher.

Spot Silver Below $17.20 with targets at $17.05 & $16.92 in extension.

Read More : Gold Prices Today Fall For Second Day, Silver Rates Decline

MCX Silver Day Trading Zone: Selling on Rise Resistance @45233

Trump, speaking after a cabinet meeting of his administration, threatened to put more punitive duties on Chinese goods by Dec. 15 unless the phase one of a U.S.-China deal was inked. Hopes of the partial trade deal diminished somewhat recently as China repeatedly urged the U.S. to roll back previously imposed tariffs.

While high-level officials from the two nations said last week that they are close to signing the deal, Trump has unexpectedly said last Friday that he has not agreed to cancel existing tariffs, before threatening to raise them even higher. There have also been reports about China’s unwillingness to agree to a sizable purchase of U.S. agriculture goods every year as demanded by Washington, creating more uncertainties surrounding the trade talk progress.

In other news, while not a directional drivers, situation in Hong Kong received some focus as the U.S. Senate unanimously passed a bill supporting Hong Kong protesters, drawing criticism from China’s foreign ministry.

A report from the Commerce Department showed a substantial rebound in new residential construction in the month of October. Building permits spiked by 5% to an annual rate of 1.461 million in October after tumbling by 2.4% to a revised rate of 1.391 million in September.