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Silver dips on US equities rally

Silver dips on US equities rally

Silver futures ended lower in the domestic market on Tuesday surrendering what would have been a nearly 2-year settlement high as a rally in U.S. equities tainted the appeal of precious metal. Declines for precious metals came as U.S. stocks soared to new heights on Tuesday, dulling interest in the shiny metals.

At the MCX, Silver futures for September 2016 contract ended at Rs 47,401/10 gram, down by 0.86 % after opening at Rs 48,060, against the last closing price of Rs 47,812. It touched the intra-day low of Rs 47,000.

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