Silver down 0.5% on global cues, profit-taking
Profit-taking also put pressure on silver futures
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Silver prices fell by 0.55% to Rs 45,080 per kg in futures trade today as speculators trimmed their positions, taking weak cues from the global markets.
Besides, profit-taking also put pressure on silver futures.
At the Multi Commodity Exchange, silver for delivery in March next year traded lower by Rs 250, or 0.55%, to Rs 45,080 per kg in business turnover of 389 lots.
Similarly, the white metal for delivery in May 2014 declined by Rs 239, or 0.52%, to Rs 46,027 per kg in business volume of six lots.
In the international market, silver traded 0.30% lower at $19.92 an ounce in Singapore.
Analysts said a subdued trend in precious metals in the global markets as investors await the Federal Reserve's decision on the timeline for reducing stimulus in the US and profit-booking by speculators, led to fall in silver futures prices here.
Besides, profit-taking also put pressure on silver futures.
At the Multi Commodity Exchange, silver for delivery in March next year traded lower by Rs 250, or 0.55%, to Rs 45,080 per kg in business turnover of 389 lots.
Similarly, the white metal for delivery in May 2014 declined by Rs 239, or 0.52%, to Rs 46,027 per kg in business volume of six lots.
In the international market, silver traded 0.30% lower at $19.92 an ounce in Singapore.
Analysts said a subdued trend in precious metals in the global markets as investors await the Federal Reserve's decision on the timeline for reducing stimulus in the US and profit-booking by speculators, led to fall in silver futures prices here.
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First Published: Dec 17 2013 | 3:27 PM IST