Hot Commodities: Silver drops over 2% ahead of key Fed minutes

Silver prices fell more than 2% to trade below $61 an ounce on Tuesday as investors adopted a cautious stance ahead of the release of the Federal Reserve's June meeting minutes, which could provide fresh clues on the future path of US interest rates. Although weaker-than-expected US jobs data and a softer dollar reinforced expectations of a more patient Fed, traders largely opted to book profits after the recent rally. Reflecting the subdued global sentiment, MCX September silver futures also declined nearly 2% to Rs 231,274 per kg.

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