Silver futures down 0.5% on global cues
Metal for delivery in far-month March traded lower by 0.3%
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Silver prices fell by 0.51% to trade at Rs 52,170 per kg in futures trade today as participants engaged in reducing their positions amid a weakening trend in the global markets.
At the Multi Commodity Exchange, silver for delivery in December down Rs 269, or 0.51%, to Rs 52,170 per kg in a business turnover of 2,290 lots.
In a similar fashion, silver for delivery in far-month March traded lower by Rs 177, or 0.33%, at Rs 53,478 per kg in 14 lots.
Market analysts said offloading of positions by speculators following a weak trend overseas on speculation that the US Federal Reserve will commit to reducing stimulus next week, weighed on silver futures prices here.
Meanwhile, silver fell by 1.4% to 22.87 dollar an ounce in Singapore today.
At the Multi Commodity Exchange, silver for delivery in December down Rs 269, or 0.51%, to Rs 52,170 per kg in a business turnover of 2,290 lots.
In a similar fashion, silver for delivery in far-month March traded lower by Rs 177, or 0.33%, at Rs 53,478 per kg in 14 lots.
Market analysts said offloading of positions by speculators following a weak trend overseas on speculation that the US Federal Reserve will commit to reducing stimulus next week, weighed on silver futures prices here.
Meanwhile, silver fell by 1.4% to 22.87 dollar an ounce in Singapore today.
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First Published: Sep 12 2013 | 12:31 PM IST