Silver futures fall 0.49% on weak overseas trend

Tracking a weak trend overseas, silver prices fell by 0.49% to Rs 41,173 per kg in futures trade today as speculators engaged in offloading positions.

 

At the Multi Commodity Exchange, silver for delivery in far-month December lost Rs 201, or 0.49%, to Rs 41,173 per kg with a turnover of 318 lots.

 

Marketmen said the fall in silver futures was mostly due to a weakening trend in global markets after the Federal Reserve raised its interest-rate projections, spurring gains in the dollar and reduced demand for the precious metals.

 

Meanwhile, in New York, silver fell 0.88% to $18.52 an ounce in Wednesday's trade.