September was quite disappointing month for the entire precious metals space wherein as usual the high bet silver was a major mover, this time on the negative side. In the month, global silver spot prices traded down by 7.50% at $21.80 per troy oz while silver spot prices in the domestic market traded down by 10.70% and settled the month at Rs 49,300 per kg. There was a difference in price performance between global and local silver as the rupee appreciated over 4% for the first time in the last five months.
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