Commodities Price Update-Silver Futures Decline Significantly,Gold Registers Slight Increase

Silver futures fell for a third consecutive day,while registering the largest decline in value in a three day period in 28 years.Silver future last settled in at USD $ 39.075 an ounce, falling by 0.79 percent. The decline in Silver was due to the Comex’s owners, CME Group, raising the minimum amount of cash to be deposited as margin when trading silver futures from USD $ 14513 to USD $ 16200 per contract. They did this in order to reduce the speculative behaviour in recent weeks which had caused record increases in silver. The larger amount of margin has discouraged investors from speculating on the commodity, leading to a mass exodus and sell off of the metal which has led to its low price.

Meanwhile, gold futures fell to USD $ 1513 an ounce, before rebounding slightly to settle in at USD $1518.90 an ounce while increasing by 0.24 percent. The increase in the value of gold was spurred by a report released by the International Monetary Fund, which showed that central banks in Mexico, Russia and Thaila