Thursday 15 December 2016

Silver Slides Nearly 2% On MCX, Breaks Under Rs 41K

MCX Bullion, MCX Base Metal, Agri commodities, Copper , Base metals, Mentha oil, Natural Gas, crude oil, commodity face, MCX Gold Silver,  Crude Oil,  NCDEX Advice
MCX Silver took a huge fall today as COMEX Silver drooped following the hike in interest rates by US Federal Reserve. COMEX Silver futures slipped in Asian trades since Gold dropped to a fresh 10- month low. US dollar soared sharply as the US Fed hiked interest rate by a 0.25 percent  and showed more to come next year.
Dollar index is around its 15 year highs, trading above 102 levels right now. COMEX Silver plunged by 2.50 percent to USD 16.78 per ounce.
MCX Silver futures also followed the same cues and dropped at the very start only;  The counter opened with a sharp gap of over Rs 400 per kg and currently trades at Rs. 40, 965 /kg, down 1.83 percent  on the day.

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