Silver on MCX settled up 0.29% at 40102 on the back of rising uncertainty on the markets as demand for safe havens increased. U.S. new home sales unexpectedly fell in March, dampening optimism over the health of the housing market, official data showed. In a report, the U.S. Commerce Department said new home sales declined by 1.5% to a seasonally adjusted 511,000 units last month. New home sales in February were revised to show a 0.4% decline to 519,000 units, from the prior reading of a 2.0% gain.

Trading Ideas:

Silver trading range for the day is 39391-40731.

Silver prices gained on the back of rising uncertainty on the markets as demand for safe havens increased.

U.S. new home sales unexpectedly fell in March, dampening optimism over the health of the housing market, official data showed.

Data showed hedge funds and money managers raised their bullish position in COMEX silver contracts to a record high in the week to April 19. 

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