Silver tips settled down -1.08% at 48639 as rupee gained for a second straight session to touch its highest level in nearly a week on Thursday as foreign banks sold dollars in the spot market while squaring off their long dollar positions in the offshore non-deliverable forwards. While Comex Silver fell 0.5% to $21.65 an ounce traded lower due to some encouraging US economic data.
Crude oil settled down -0.47% at 6402 for a sixth session out of seven as a US-Russia deal to remove chemical weapons from Syria and talks on resolving tensions over Iran’s nuclear plans helped ease fears over Middle East supply risks.
Earlier in the day Crude Oil rose despite increasing tensions regarding a US budget battle. Congressional Republicans and Democrats worked to craft a budget proposal to avoid an October partial government shutdown. The House of Representatives approved legislation to fund the government through Dec.