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Silver loses shine on overseas cues

Silver futures were trading lower during evening trade in the domestic market on Wednesday as investors and speculators exited their positions in the precious metal on stronger greenback on expectations that the US Fed will signal a June rate hike in the outcome of its two-day policy meeting later in the day.

US Federal Reserve likely to stand pat on key interest rates this time, but expected to fall hints on the possibility of a rate hike in near term.

At the MCX, silver futures for May 2017 contract is trading at Rs 38,621 per kg, downward by 0.18 %, after opening at Rs 38744, against a last close of Rs 38689. It touched the intra-day lower of Rs 38526.

Read More – Commodity Updates

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Silver loses shine on overseas cues

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