Silver futures fell during evening trade in the domestic market on Monday as investors and speculators exited positions in the precious metal after upbeat US economic data signaled strength in the world’s biggest economy despite global headwinds, raising the case for the US Federal Reserve to hike interest rates this year after December’s initial lift-off, dimming the lure for the bullion as a store of value.

While US economic growth for the fourth quarter was revised upwards to 1 per cent annualized pace from an earlier 0.7 per cent, the Fed’s preferred inflation gauge rose by the most since October 2014, up 0.1 per cent in January 2016 from the previous month and 1.3 per cent from the same month a year ago, raising the case for a continuation of rate tightening.

At the MCX, Silver futures for March 2016 contract is trading at Rs 36,185 per kg, down by 0.18 per cent, after opening at Rs 36,103, against the previous closing price of Rs 36,250. It touched an intraday low of 35,922 (At 16:07 PM).