White metal little changed on weak overseas cues 21/03/2017

White metal little changed on weak overseas cues
21/03/2017 16:02
Silver futures were little changed during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the precious metal on fall in safe-haven demand despite weakness in the US dollar after Chicago Fed President Charles Evans reinforced the perception that the US central bank won't accelerate the pace of its interest rate hikes.
The greenback hurt after the Fed's Evans on Monday repeated the central bank's call for two more interest rate increases this year.
At the MCX, silver futures for May 2017 contract is trading at Rs 40845 per kg, down by 0.06 per cent, after opening at Rs 40750, against a previous close of Rs 40869. It touched the intra-day low of Rs 40705 (at 16:03 hours).