Silver futures down 0.7% on global cues, weak spot demand

White metal for delivery in March 2014 fell by 0.69%

Silver prices fell by 0.70% to Rs 44,233 per kg in futures trade today on weak cues from the global market amid subdued domestic demand.

 

At the Multi Commodity Exchange, silver for delivery in December fell by Rs 314, or 0.70% to, Rs 44,233 per kg in business turnover of 274 lots.

 

In a similar fashion, the white metal for delivery in March 2014 fell by Rs 319, or 0.69% to Rs 45,685 per kg in business volume of 21 lots.

 

Market analysts said besides weak demand at domestic spot markets, a subdued trend in the global markets as the accord between Iran and world powers damped demand for haven assets, while holdings in exchange-traded products extended declines, attributed fall in silver prices at futures trade here.

 

In the international market, silver fell 0.50% to trade at over 15-week low of $19.78 an ounce in Singapore.