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White Metal Loses its Balance by 0.41 Percent

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White Metal Loses its Balance by 0.41 Percent

July 16
15:35 2014

silver2New Delhi, Wednesday, July 16 – Rates of white metal lost its footing by 0.41% to tumble and reach at the mark of INR 44,672 a kilogram in futures trade on Wednesday for the most part familiar with a feeble fashion out of the country in the midst of profit-booking by investors.

Detailing it further, the metal for delivery after a couple of months changed hand being down by INR 188, or say 0.41%, to hit at INR 44,672 a kg in a total sales of 781 lots at the MCX. In addition to this, hitting the mark of INR 45,541 each kilogram in a trade volume of 28 lots, the white metal for delivery in the far-month December lost it balance by INR 182, or 0.40 %. In trade of July 15, the precious metal changed hands being 0.89 % down and hit at $20.72 per ounce in New York.

Above and beyond, more than a few market analysts mentioned that with the exception of profit-booking by partakers, a fragile fashion in worldwide markets as the prospect for elevated borrowing costs in the United States reinforced the American unit and restrained demand for another investment guided to the plunge in costs of white metal at futures deal at this point.

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