Silver Futures Fall to $21.79 on Lower Indian Buying

- October 9th, 2013

Silver fell today on the back of news that in September, India purchased just $800 million worth of gold and silver, down from $4.6 billion a year ago.

Silver fell today on the back of news that in September, India purchased just $800 million worth of gold and silver, down from $4.6 billion a year ago, as per Bloomberg.

Silver futures for December delivery fell 2.5 percent, to $21.891 an ounce, the news outlet said. Meanwhile, the gold/silver ratio hit 59.22, the weakest rate in almost a month, Reuters reported. The ratio tracks how many ounces of silver are needed to buy an ounce of gold.

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