The lender may begin to offer to settle its clients’ trades using metal located in Zurich, according to people familiar with the matter.

Once completed, the Guben converter will be the first of its kind in Europe, with expected annual production capacity of 24,000 tonnes.

India imported 20 tonnes in December, down from 95 tonnes a year ago.

Prices were trending lower on some profit taking from the shorter term futures traders ahead of the CPI report tomorrow, says analyst.

Higher price is also driving up the shares of mining companies, with BHP notching a record high.

For the year, the Mexico-focused silver miner outputted a record 10.3 million oz.

Most refiners in the world's second-biggest consumer of the precious metal have suspended operations.

The mystery buyer represented 13% of net buying in the market on March 7, according to the Oliver Wyman report.