Silver futures were trading lower during the afternoon trade 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 futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels.
At the MCX, silver futures for December 2017 contract was trading at Rs 39689 per kg, down by 0.11 per cent, after opening at Rs 39,734, against a previous close of Rs 39,732. It touched the intra-day low of Rs 39,607.
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Trading Ideas
- Silver trading range for the day is 39427-40177.
- Silver prices remained under pressure as hawkish comments from Federal Reserve Chair Janet Yellen boosted expectations of a December rate hike.
- Yellen said the Fed needs to continue gradual rate hikes despite broad uncertainty about the path of inflation.
- The U.S. central bank announced it would begin trimming down its $4.5 trillion in assets and signaled it will likely raise rates again before the end of this year.
- Silver trading range for the day is 39427-40177.
- Silver prices remained under pressure as hawkish comments from Federal Reserve Chair Janet Yellen boosted expectations of a December rate hike.
- Yellen said the Fed needs to continue gradual rate hikes despite broad uncertainty about the path of inflation.
- The U.S. central bank announced it would begin trimming down its $4.5 trillion in assets and signaled it will likely raise rates again before the end of this year.
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