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Silver futures slip 0.73% to Rs 66,049 per kg on firm dollar

In the futures market, silver for March delivery touched an intraday high of Rs 66,095 and a low of Rs 65,501 per kg on the MCX.

Mumbai / January 28, 2021 / 04:08 PM IST
Silver

Silver

Silver prices fell to Rs 66,049 per kg on January 28 as participants increased their short positions as seen by the open interest. The precious metal had risen 0.6 percent on January 27 on the COMEX.

The white metal traded in the red after a gap down open tracking weakness in gold, firm US dollar after the US Federal Reserve kept rates unchanged.

Silver prices were pressured downward by downbeat growth outlook and lack of hint of fresh measures dampened risk sentiment boosting the US dollar.

The US dollar index traded higher at 90.72 levels, up 0.08 percent, in the afternoon trade.