NEW YORK, December 29 (FinanceEnquiry.com) - Under precious metals, it was seen that February delivery bullion moved back for the six successive time, which is the longest period of deterioration for a most-active contract since March 2009. Yesterday, the futures dropped to a 3-month low of $1,550.90 an ounce on the news of euro being down to an 11-month low against the dollar.

Silver for March delivery dropped as much as 2 percent to reach $26.69 an ounce level, which is the lowest figure since September 26 and the last traded price was at $26.73. After declining to $1,549.35 an ounce yesterday, gold spot delivery slightly moved at $1,555.93 an ounce. For the fourth successive day, spot silver dropped by 1.2% to touch $26.78 an ounce level, which also marked the lowest since September 26, while white metal was down 13% in 2011 and last traded at $26.8425.


While focusing on base metals, it was observed that copper plunged for the second consecutive day of its weekly lowest level reflecting the concerns of Europe