Gold Silver Reports — Technically MCX Silver market is under short covering as market has witnessed drop in open interest by -0.71% to settled at 17182 while prices up 185 rupees.

MCX Silver is getting support key at 38330 and below same could see a test of 38134 level, And resistance key is now likely to be seen at 38820, a move above could see prices testing 39100.

Silver on MCX settled up 0.48% at 38645 as tensions on the Korean peninsula boosted safe-haven demand for the metal and as the U.S. dollar hovered close to multi-month lows.

The U.S. dollar hit a more than 2-1/2-year low against the euro on Monday on month-end portfolio adjustments and expectations for a more hawkish European Central Bank, and touched a more than six-week low against the yen on concerns over low U.S. inflation.

The Kremlin has ordered the United States to cut about 60 percent of its diplomatic staff in Russia but many of those let go will be Russian citizens, softening the impact of a measure adopted in retaliation for new U.S. sanctions.

Contracts to buy previously owned U.S. homes rebounded in June after three straight monthly declines, but the housing market remained constrained by a shortage of properties available for sale. Meanwhile, political uncertainty from Washington continued to limited downside in gold prices, as the Trump administration struggles to deliver on its economic agenda which includes tax-reform, after the U.S. Senate rejected a bill to repeal Obamacare.

Market participants, however, will turn attention to monetary policy, as central bank policy decisions from Australia and the United Kingdom are slated for this week while U.S. nonfarm payrolls data due Friday rounds off the trading week. — Neal Bhai Reports