Silver rebounds after crashing around 2% in last session

COMEX Silver futures are up in Asia today though overall movement is tight. The metal currently trades up 0.90% at $58.07 per ounce after falling around 2% in last session. A mild weakness is being seen in the US dollar index as it hovers around 101 mark ahead of the US Fed monetary policy meeting. Silver had tested around seven-month low last week before witnessing a recovery though highs around $60 per ounce capped the upside this week. On MCX, Silver futures are up 0.96% at Rs 217905 per kg. Local demand trends are mixed though the recent decline in prices is bound to trigger some enthusiasm in retail market.

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