Silver futures end lower on Fed QE taper fears

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Silver futures closed lower in the domestic market on Wednesday as investors and speculators exited positions in the precious metal after robust US retail sales data boosted the case for the US Federal Reserve to start tapering its record easing plan, dimming the appeal of the white metal, which is a hedge against the inflationary risk of monetary stimulus.

US retail sales rose at the fastest pace in three months in October 2013, signaling a pickup in the world's biggest economy.

Silver futures for December 2013 contract, at MCX, closed at Rs. 44,999 per kg, down by 0.97 per cent after opening at Rs. 45,621, against the previous closing price of Rs 45,440. It touched an intra-day low of Rs 44,900.

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Story first published: Thursday, November 21, 2013, 13:02 [IST]
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