India silver settles higher on UK PMI construction data

The spot silver settled by gaining 2.01% from previous closing at $38.57 before which it has ticked new high of $38.7562 .The same has been observed in the futures in both the COMEX and MCX division.
COMEX Silver May future has added 2.02 percent outperformed gold, supported by equities gain and a better than expected UK PMI construction data.
The Global equities closed mostly in positive while the Asian equities gained more than the DJIA or FTSE. The dollar index closed by gaining little to settle at 75.91.
The I-share silver holdings is counted to its current holdings of 11139.52tons as on 4th April.
Outlook:
The COMEX May future is currently quoting $38.69, up by 0.51% from the previous closing. The Asian equities are trading mostly in a mix and the dollar index is in a bit stronger side.
As conferred in Gold’s outlook, the same is expected in the white metal also. Besides, construction sector outlook in the UK along with PMI Services data from the Euro zone, Germany and UK which are due release, expected to be fair. The economic unrest is again a fuelling factor for the havens demand which may lift silver prices up.
Overall, it is likely that the white metal will be remaining up for the day and hence is recommended to be on the buy side for silver.

(Source: http://www.commodityonline.com/futures-trading/technical/India-silver-settles-higher-on-UK-PMI-construction-data-23022.html)