MUMBAI (Commodity Online): MCX Silver is trading down by 2.25% on Monday afternoon trade, tracking COMEX silver prices after precious metals in general were under pressure from a strong dollar.
MCX silver December is trading at Rs 56071 after opening the day at Rs 56900 while COMEX silver December decline $1.13 to trade at $34.15/oz
The Japanese weakened their Yen against the dollar and this led to a surge in dollar against most currencies. Stronger dollar weakens the dollar-denominated currencies. As such both Gold and Silver prices declined at international markets.
