Silver futures down 0.52%, tracking global trend

Silver futures prices today moved down by 0.62% to Rs 60,819 per kg, largely in tune with a weakening trend overseas.

At the Multi Commodity Exchange, the December contract for silver fell by Rs 379, or 0.62%, to Rs 60,819 per kg, with a business turnover of 2,426 lots.

Similarly, the March contract lost Rs 356, or 0.57%, to Rs 62,550 per kg, with a business turnover of 136 lots.

Marketmen attributed the fall in silver futures to a weakening trend overseas on speculation that China may not need additional stimulus after exports grew more than estimated in September, reducing demand for the precious metals.

Meanwhile, silver dropped 1.4% to $33.05 an ounce, the lowest since September 13 in Singapore.