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Silver futures slip 1.54 to Rs 69,800 per kg

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focus_keywordThe precious metal gained 0.2 percent yesterday on the COMEX focus_keywordThe dear metallic gained 0.2 % yesterday on the COMEX

Silver costs slipped to Rs 69,800 per kg on September 2 as members elevated their brief positions as seen by the open curiosity. The dear metallic gained 0.2 % yesterday on the COMEX.

Silver costs had been weighed down by strengthening of the greenback index, presently buying and selling up 0.34 % to 92.65.

Silver holdings in iShares ETF had been unchanged at 17,855.07 tonnes.

Within the futures market, silver for December supply touched an intraday excessive of Rs 70,600 and a low of Rs 69,500 per kg on the MCX. Thus far within the present sequence, the valuable metallic has touched a low of Rs 49,415 and a excessive of Rs 79,723.

Silver supply for December contract slipped Rs 1,090, or 1.54 %, to Rs 69,800 per kg at 14:29 hours, with a enterprise turnover of 15,757 heaps. The identical for the March contract declined Rs 1,062, or 1.45 %, to Rs 72,172 per kg with a turnover of 104 heaps.

The worth of December and March’s contracts traded up to now is Rs 1,278.58 crore and Rs 10.17 crore, respectively.

The spot gold/silver ratio presently stands at 70.46 to 1, which suggests the quantity of silver required to purchase one ounce of gold.

Silver might even see uneven commerce within the close to time period as a result of combined elements, nonetheless, shopping for is predicted to emerge at decrease ranges amid indicators of enhancing industrial demand, stated Kotak Securities.

At 09:03 (GMT), the valuable metallic was down 1.79 % quoting at $28.13 an oz. in New York.

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First Revealed on Sep 2, 2020 03:08 pm

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