Silver Prices Declined By 2.6 Percent Last Week To Close At $16.6

Spot silver prices declined by 2.6 percent last week to close at $16.6 per ounce in line with rise in gold prices. On the MCX, silver prices declined by 3.1 percent to close at Rs.37262 per kg.

We expect gold prices to trade lower today on anticipation that the US FED might hint something on the rate hike.

Although, dollar index has significantly weakened in the past and the possibility of one more rate hike in 2017 remains, gold prices might be volatile in the weeks ahead.


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