Silver futures down 0.11% on reduced offtake

Sluggish demand influences prices

Silver prices declined by 0.11% to Rs 64,293 per kg in futures trade today as speculators trimmed their positions on the back of sluggish demand at prevailing higher levels in the spot market.

At the Multi Commodity Exchange, silver for delivery in December declined by Rs 69, or 0.11%, to Rs 64,293 per kg in a business turnover of 8,701 lots.

March silver shed Rs 71, or 0.11%, to Rs 66,017 per kg in 378 lots.

Market analysts said reduced offtake by traders on the back of sluggish demand at prevailing higher levels in the spot market influenced silver prices at futures trade.