Silver Down On Feeble Global Cues

Silver futures closed lower in the domestic market on Thursday as participants engaged in trimming their positions taking weak cues from global market.

Marketmen attributed the fall in silver prices at the futures trade to a weak trend in the precious metals overseas as the dollar rebounded after a Federal Reserve policy maker said the US economy is strong enough to warrant an increase in interest rates soon. 

At the MCX, Silver futures for September 2016 contract closed at Rs 43,665, per 1 kg, down by 0.23 per cent after opening at Rs 43,850, against the previous closing price of Rs 43,766. It touched the intra-day low of Rs 43,521.

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Suhani Verma

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