Silver futures fell during evening trade in the domestic market on Thursday as investors and speculators exit positions in the precious metal as the US Federal Reserve moved closer to an interest rate hike, curbing the lure for the bullion as a store of value.

The US Federal Reserve on Wednesday kept policy unchanged but signaled that a move to raise interest rates in December was probably on the cards, with the case for policy tightening continuing to strengthen amid quickening inflation. At the MCX, silver futures for December 2016 contract is trading at Rs 43,044 per kg, down by 2.35 per cent, after opening at Rs 44,059, against a previous close of Rs 44,079. It touched the intra-day low of Rs 42,933. (At 15:58 PM).

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