Mumbai, Dec. 3 -- Silver futures dipped to around $58 per ounce on Wednesday as traders booked profits after the metal hovered near record highs. The recent surge toward $60 was supported by a weaker US dollar, tight physical supply and strong industrial demand, with the dollar index down nearly 10 percent this year. Weak US manufacturing for November strengthened expectations of a 25 basis point Fed rate cut next week, with markets also pricing in more cuts next year. Investors now await comments from Fed Chair Jerome Powell for clearer cues. On MCX, March silver traded slightly higher at Rs.182197 per kg after touching a new peak of Rs.182998 on Monday.
Published by HT Digital Content Services with permission from Capital Market....