Silver futures drop Rs 202 per kg on weak global cues

Image
Press Trust of India New Delhi
Last Updated : Sep 26 2016 | 11:22 AM IST
Silver prices slumped Rs 202 to Rs 47,470 per kg in futures trade today as speculators cut their holdings amid a weakening trend overseas.
Silver for delivery in far-month March next year was trading sharply lower by Rs 202 or 0.42 per cent at Rs 47,470 per kg in a business turnover of 9 lots in futures trading at Multi Commodity Exchange (MCX).
On similar lines, the white metal for delivery in December was trading Rs 193, or 0.41 per cent down at Rs 46,624 per kg with a business turnover of 1,125 lots.
In the international market, silver traded 0.84 per cent lower at USD 19.51 an ounce in Singapore today.
Market analysts said a weak trend in precious metals in global market as the dollar erased losses, dimming the precious metals' appeal as an alternative investment, led to drop in silver prices at futures trade here.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Sep 26 2016 | 11:22 AM IST

Next Story