India silver seen extending losses to 3rd mth on dlr

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MUMBAI (Reuters) - India silver futures may extend losses for a third straight month on the back of an expected strength in dollar overseas, which dims silver bullion's appeal as an alternative investment, analysts said.

The most-traded March silver was trading 0.39 percent higher at 24,357 rupees per kg at 5:26 p.m., after losing 4.9 percent in the previous nine trading sessions in February.

The contract had shed 10 percent in the previous two months.

"Overall we expect weakness to continue in silver on expected dollar strength, which (the dollar index) could move over 82," said Harish Galipelli, head of research with JRG Wealth Mangement.

Silver might be in the range of 23,000-25,500, he said.