Silver futures tumble Rs 622 as weak global cues hurt

Image
Press Trust of India New Delhi
Last Updated : Aug 18 2015 | 5:57 PM IST
Amid a weakening trend overseas, silver prices plunged by Rs 622 to Rs 35,192 per kg in futures trade today as speculators indulged in offloading positions at existing levels.
Silver for delivery in September contracts traded sharply lower by Rs 622, or 1.74 per cent, to Rs 35,192 per kg in a business turnover of 9,991 lots in futures trading at Multi Commodity Exchange (MCX).
On similar lines, the white metal for delivery in far-month December was trading Rs 590, or 1.61 per cent lower, at Rs 35,975 per kg with a business turnover of 494 lots.
In the international market, silver traded 1.40 per cent lower at USD 15.10 an ounce in London.
Market analysts said a weak trend in precious metals in global markets amid profit-booking by participants, dragged down silver prices at futures trade here.
*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: Aug 18 2015 | 5:57 PM IST

Next Story