MCX Silver futures Tips Forecast – Watch Level ₹45000 Level, Big Down Side Target ₹42700—₹41700—₹40400
MCX Silver settled down 0.55% at 44237 as Sino-U.S. trade negotiations continued to send conflicting signals to the markets. Chinese President Xi Jinping said that China has been ?working actively to try not to have a trade war.
Xi and his U.S. counterpart Donald Trump both expressed a desire to sign a phase one trade deal. However, Reuters reported that the signing of the deal might be delayed till next year. Beijing has accused the U.S. of meddling in its internal affairs as the U.S. Congress passed two pro-democracy bill that support protestors in Hong Kong.
A phase two trade agreement now looks even less likely as the two nations struggled to even reach a preliminary deal.
On the other hand, Trump said a trade accord with China is “potentially very close,” before noting that “the question is whether or not I want to make it.” IHS Markit said its US flash manufacturing sector PMI (purchasing managers? index) rose to 52.2 in November from 51.3 in October, marking the fastest rate since April.
The index for the services sector rose to 51.6 from 50.6, the quickest expansion since July. US consumer sentiment for November came in better than expected, as the University of Michigan?s consumer confidence index rose to 96.8 from 95.5 in October, compared to an expected 95.7.
