Silver Dips On US Equities Rally

Silver futures closed lower in the domestic market on Tuesday surrendering what would have been a nearly two-year settlement high as a rally in U.S. equities tainted the appeal of precious metal. Declines for precious metals came as U.S. stocks soared to new heights on Tuesday, dulling interest in the shiny metals.

At the MCX, Silver futures for September 2016 contract closed at Rs 47,401, per 10 gram, down by 0.86 per cent after opening at Rs 48,060, against the previous closing price of Rs 47,812. It touched the intra-day low of Rs 47,000.
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Suhani Verma

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