MCX prices of silver futures fell 1.7% to Rs 35,755 per kg today, with feeble signs of global market amid stronger US dollar.
"The fall in the rupee against the dollar has soared. The price of one dollar has reached beyond Rs 62. After FOMC minutes, the rupee has come at 9-month low. But despite the weakness in the rupee in the domestic market did not support gold and silver." said 100McxTips bullion experts.
Today, a sharp decline is visible in gold and silver. With 1 per cent decline on MCX gold is trading below Rs 26,450. As firmly in the dollar price of precious metal in the international market has come down.
At global market, Silver for delivery in December was down 0.5 percent to $ 16.215 an ounce in New York.
100McxTips a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @100mcxtips