Silver futures ended lower in the domestic market on Wednesday as investors and speculators exited positions in the precious metal amid weak cues from overseas market amid concerns that the US Fed may continue tapering QE, dimming the appeal of the bullion, hedge against the inflationary risk of monetary stimulus.
Silver futures for May 2014 contract, at MCX, closed at Rs. 43,046 per 10 grams, down by 1.06 per cent after opening at Rs. 43,528, against the previous closing price of Rs 43,508. It touched an intra-day low of Rs 42,870.
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