Silver futures down 0.9% on global cues
Speculators engaged in trimming positions amid a weakening trend overseas
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Silver prices fell 0.93% to Rs 44,300 per kg in futures trade today as speculators engaged in trimming positions amid a weakening trend overseas.
At the Multi Commodity Exchange, silver for delivery in July traded lower by Rs 415, or 0.93%, to Rs 44,300 per kg in a business turnover of six lots.
The white metal for delivery in September declined by Rs 212, or 0.47%, to Rs 44.840 per kg in 1,241 lots.
In the international market, silver traded 0.30% lower at USD 21.09 an ounce after rising to USD 21.29 yesterday, the highest price since March 17.
Market analysts said a weak trend in precious metals in overseas markets before employment data that may show the US economy is gaining momentum weighed on silver prices in futures trade here.
At the Multi Commodity Exchange, silver for delivery in July traded lower by Rs 415, or 0.93%, to Rs 44,300 per kg in a business turnover of six lots.
The white metal for delivery in September declined by Rs 212, or 0.47%, to Rs 44.840 per kg in 1,241 lots.
In the international market, silver traded 0.30% lower at USD 21.09 an ounce after rising to USD 21.29 yesterday, the highest price since March 17.
Market analysts said a weak trend in precious metals in overseas markets before employment data that may show the US economy is gaining momentum weighed on silver prices in futures trade here.
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First Published: Jul 03 2014 | 12:27 PM IST