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Silver futures decline on reduced offtake

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Press Trust of India New Delhi

Silver futures prices fell by Rs 65 to Rs 36,099 per kg today due to reduced offtake at existing higher levels amid weakening global trend.

At the Multi Commodity Exchange counter, silver for delivery in May fell by Rs 65, or 0.18 per cent, to Rs 36,099 per kg, with a business turnover of just one lot.

Similarly, the metal for delivery in December shed Rs 35, or 0.10 per cent, to Rs 35,936 per kg, clocking a trade volume of just one lot.

Market analysts said reduced offtake on fall in demand at existing higher levels amid weakening global trend, mainly led to fall in silver futures prices.

 

The silver in overseas markets  fell by 1.17 per cent to $23.58 an ounce.

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First Published: Oct 27 2010 | 2:57 PM IST

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