Silver MCX price yesterday settled up by 0.1% at 67545 as dollar retreated after the U.S. House of Representatives passed the $1.9 trillion coronavirus relief package.
Silver MCX Hit All Down Side Target, Representatives passed the $1.9 trillion coronavirus relief package
U.S. Treasury yields continued to move lower after the release of weaker-than-expected inflation data and a successful auction of benchmark 10-year notes.
The OECD revised its 2021 global growth projection to 5.6% from 4.2% as vaccine rollout is gaining momentum and government stimulus, particularly in the US, is likely to provide a major boost to economic activity.
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The US economy is seen growing 6.5% in 2021, higher than 3.2% in the previous outlook while the Chinese economy is seen expanding 7.8%, slightly less than 8% earlier.The Eurozone should expand 3.9%, up from 3.6%, mostly due to upward revisions to Germany and Spain while France and Italy are likely to grow less.
- OECD revises up its 2021 growth outlook.
- Silver prices Dropped as dollar retreated after the U.S. House of Representatives passed the $1.9 trillion coronavirus relief package.
- U.S. Treasury yields continued to move lower after the release of weaker-than-expected inflation data and a successful auction of benchmark 10-year notes.
- Silver MCX trading zone for the day 65300—67770.
The European Central Bank left monetary policy unchanged but said it would conduct emergency bond purchases at a significantly higher pace over the next quarter, aiming to curb rising bond yields and support the bloc’s economy. The euro has been recently under pressure as investors continue to monitor the slow pace of COVID-19 vaccination in the EU and its impact on Europe’s economic recovery.
