Silver futures down 0.77% on global cues
Speculators trimmed their positions, tracking a weak trend overseas
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A trader displays silver ornaments inside his shop in Ahmedabad
Silver prices fell by 0.77% to Rs 45,575 per kg in futures trade today as speculators trimmed their positions, tracking a weak trend overseas.
At the Multi Commodity Exchange, the September contract traded Rs 355, or 0.77%, lower at Rs 45,575 per kg in business turnover of 24 lots.
The July contract declined by Rs 343, or 0.76%, to Rs 44,825 per kg in business volume of 1,081 lots.
In the international market, silver traded 1.1% lower at $23.75 an ounce in Singapore today.
Market analysts said a subdued trend in precious metals in the global markets on speculation that physical purchases may be slowing after recent rise, led to fall in silver prices at futures trade here.
At the Multi Commodity Exchange, the September contract traded Rs 355, or 0.77%, lower at Rs 45,575 per kg in business turnover of 24 lots.
The July contract declined by Rs 343, or 0.76%, to Rs 44,825 per kg in business volume of 1,081 lots.
In the international market, silver traded 1.1% lower at $23.75 an ounce in Singapore today.
Market analysts said a subdued trend in precious metals in the global markets on speculation that physical purchases may be slowing after recent rise, led to fall in silver prices at futures trade here.
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First Published: May 07 2013 | 11:25 AM IST