White metal loses sheen on global cues 07/09/2016

White metal loses sheen on global cues
07/09/2016 13:46

Silver futures were trading lower during the afternoon trade in the domestic market on Wednesday as investors and speculators cut short their bets in the precious metal tracking weak cues from overseas markets.
Also, profit-booking at prevailing levels by speculators too weighed on silver prices.
Stronger greenback makes silver costlier for those holding other currencies, thus diminishing demand. At the MCX, silver futures for December 2016 contract is trading at Rs 47,300 per kg, down by 0.64 per cent, after opening at Rs 47,512, against a previous close of Rs 47,607. It touched the intra-day low of Rs 47,115 (at 13:44 hours).