TFEX temporarily halts silver futures trading
Thailand Futures Exchange temporarily suspended trading of all silver futures for half an hour due to the sharp price fall.
TFEX said in a statement that the execution prices of the futures decreased by 10 per cent from the latest settlement price due to falling global commodities and silver prices.
The suspension was during 3.05pm to 3.35pm. When the trading resumes, the daily price limit of all silver futures is expanded to 20 per cent (plus or minus) of the latest settlement price.
Silver prices have plummetted along with gold prices, which are traded much below US$1,920 peak level. As the world is heading towards a gloomier direction, global investors are now inclined to hold on dollar assets rather than risk assets including commodities.
Yesterday, silver futures for December delivery fell $3.891, or 9.6 percent, to close at $36.578 an ounce on the Comex, the biggest drop since October 2008. The commodity is up 18 percent this year.
