Silver Prices Fall, Looks Towards Appreciation Of Rupee
CommodityOnline | Jan 17, 2014 05:56AM ET
Silver likewise gold depicted a tight movement in yesterday’s session though the commodity recorded a much weaker session as against gold prices and finished with a loss of 0.4% at the Comex platform. Silver for most active March expiry at Comex closed at $20.05 per ounce. Lower performance in the in the whitish precious metal could be a reason of fall in the base metal complex largely in the evening hours in the LME and also domestically.
Outlook
Silver prices fell yesterday with fall in local markets further higher to 0.55% and MCX March expiry silver finishing at Rs 44545 per Kg due to expectations of Rupee appreciation. Overall we are holding on to the broader ranged view into the bullion complex and we are have the same thought for silver. As also stated above, we have some important base metals related cues in the evening session today and the same is expected to have an impact on the direction of the talked metal. We have a selling particularly in the locally markets on expectations of weak data from the US and also extended appreciation in the Rupee today.
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