Silver futures down 0.12% on global cues
Traders pare positions as metal loses shine in Singapore
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Tracking a weak trend in the precious metals overseas, silver prices eased by 0.12 per cent to Rs 45,596 per kg in futures trade today as speculators reduced their positions.
At the Multi Commodity Exchange, silver for delivery in December lost Rs 56, or 0.12 per cent, to Rs 45,596 per kg in business turnover of one lot.
The September contract shed Rs 30, or 0.07 per cent, to Rs 44,750 per kg in business volume of 554 lots.
Market analysts said besides profit-booking, a subdued trend in precious metals overseas as investors weighed the outlook for the US interest-rate policy, was responsible for the fall in silver prices in futures trade here.
In the international market, silver fell 0.45 per cent to $20.95 an ounce in Singapore.
At the Multi Commodity Exchange, silver for delivery in December lost Rs 56, or 0.12 per cent, to Rs 45,596 per kg in business turnover of one lot.
The September contract shed Rs 30, or 0.07 per cent, to Rs 44,750 per kg in business volume of 554 lots.
Market analysts said besides profit-booking, a subdued trend in precious metals overseas as investors weighed the outlook for the US interest-rate policy, was responsible for the fall in silver prices in futures trade here.
In the international market, silver fell 0.45 per cent to $20.95 an ounce in Singapore.
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First Published: Jul 08 2014 | 11:33 AM IST