Weekly Silver Review: COMEX Futures Tank To Four Month Low

Weekly Silver Review: COMEX Futures Tank To Four Month Low

Dec 07, 2019 11:12 IST capital market

COMEX Silver futures stayed weak on broad demand concerns. Industrial sector worries are playing a role in keeping the metal under check. Germanys industrial production decreased 1.7% on a monthly basis in October, bigger than the revised 0.6% fall logged in September, data from Destatis revealed. On a yearly basis, industrial output declined sharply by 5.3% after easing 4.5% in September. Excluding energy and construction, production was down by 1.7%. The commodity has been under pressure after hitting a one month high of $17.41 per ounce. A muted tone in Gold prices is also weighing on the counter. The COMEX Silver futures tumbled to a four month low of $16.60 per ounce. MCX Silver futures closed around Rs 43500 per kg, sliding more than 2% in a single session.

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