MTECHTIPS:-Silver Likely To Be In Demand On Sound Global Economic

MTECHTIPS:-Silver Likely To Be In Demand On Sound Global Economic Prospects

MTECHTIPS-Silver futures slipped from a three week high today but managed to hold well above the key $17 per ounce levels. The commodity gained in line with Gold in last few days and a supportive undertone in Copper also ensured that steady buying emerges in the white metal. The counter is expected to be generally supported in coming days on improved global economic prospects which are likely to keep the industrial demand for Silver elevated. MCX Silver futures are trading at Rs 40235 per kg, down 0.23% on the day. Global economic upswing has strengthened and is broad-based, the International Monetary Fund (IMF) said Tuesday, as it raised the growth projections for the world economy for this year and next. The growth forecast for this year was raised to 3.6% from 3.5% and the outlook for next year was lifted to 3.7% from 3.6%. The world economy grew 3.2% in 2016, which was the weakest since the global financial crisis. However, the recovery is incomplete, the IMF said, citing low wage growth, challenges faced by commodity exporters, subdued trends of productivity and demographics. Broad-based upward revisions in the euro area, Japan, emerging Asia, emerging Europe, and Russia more than offset downward revisions for the United States and the United

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