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SILVER

NEW YORK: Comex silver settled weaker after a day of dull trade, as the market continued trying to build a base after selloffs over the past week.

The precious metals were little affected by a rally in the dollar to 4-1/2 month highs against the yen. Dollar strength has tended to be negative for the metals in recent months.

Most-active September silver settled 4.5 cents lower at $5.115 an ounce, traded between $5.165 and $5.11. Volume was moderate at an estimated 14,000 lots, versus Tuesday's official turnover of 18,233.

Traders said activity was largely limited to the trade and locals, adding that the market appeared to be trying to establish a floor above the $5.00 level. NYMEX platinum settles firmer

NYMEX platinum settled firmer in thin dealings, traders said.

Some noted light profit taking from the short side as the market appeared to have found a near-term floor after the dramatic selloffs of the past week.

The precious metals largely ignored a rally in the dollar today, as intervention by the Bank of Japan and the Federal Reserve lifted the U.S. currency to 4-1/2 month highs against the yen.

October platinum settled $1.10 higher at $421.90 an ounce, traded between $423.50 and $421.00.

September palladium went out $0.55 higher at $153.20 an ounce.-Reuter