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Brent prices hold near six-month highs as supply concerns dominate

US crude's West Texas Intermediate (WTI) futures were up 8 cents at $47.80 a barrel at 0047 GMT. They rose by $1.51, or 3.3 per cent, to end at $47.72 after touching a six-month high on Monday.

 
 
However, silver dropped by Rs 600 to Rs 40,500 per kg due to reduced offtake by industrial units and coin makers.
The dollar has recovered 2.46 per cent in value from May lows against a basket of other leading currencies, reversing an almost 8-per cent fall earlier in the year.
After the bullion market remained lull for months, jewellers on the occasion of Akshaya Tritiyaon Monday  are hopeful of a 10 per cent rise in sales.
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