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Silver futures down 0.13% on global cues

Stronger dollar hurt demand for bullion as an alternative investment

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Press Trust of India New Delhi

Silver futures prices today moved down by 0.13% to Rs 59,315 per kg as speculators trimmed positions amid a weakening trend overseas.

At the Multi Commodity Exchange, silver for delivery in December fell by Rs 77, or 0.13%, to Rs 59,315 per kg, with a business turnover of 762 lots.

March silver lost Rs 58, or 0.09%, to Rs 61,198 per kg, with a business turnover of 37 lots.

Marketmen attributed the fall in silver futures to a weak trend overseas as stronger dollar hurt demand for bullion as an alternative investment.

Meanwhile, silver dropped 1.03% to $31.76 an ounce in New York in yesterday's trade.

 

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First Published: Oct 30 2012 | 11:46 AM IST

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