Silver In Red Once Again

In today's commodities update, silver lurched by 1.05% to a price of 66766 INR per kg. This is the third consecutive day that gold has performed better than silver as well. In global markets, silver fell by 1.51% to $24.75 per troy ounce. The XAG/USD rate also fell by 0.63% to $24.63 per troy ounce. 

Federal Reserve's hawkish position, along with a strong dollar and supply-side improvements especially in the Eastern Europe region are the main reasons for the decline and a major component to why investors should maintain their bearish position.