Silver futures extend weakness, down 0.68%
weak trend in global markets as investors reduced holding and strengthening dollar reduced demand for safe haven investments, influenced silver futures here
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Continuing a downward journey slide, silver prices fell by 0.68% to Rs 42,969 per kg in futures trade today as speculators engaged in off-loading positions, tracking a weak global trend.
Besides, a weakening trend at the spot markets due to subdued demand put pressure on the metal prices.
At the Multi Commodity Exchange, the July contract lost Rs 273, or 0.68%, to Rs 42,969 per kg, with a turnover of 1,790 lots.
The September contract dropped by Rs 288, or 0.66%, to Rs 43,500 per kg, in a business turnover of 72 lots.
Analysts said a weak trend in global markets as investors reduced holding and strengthening dollar reduced demand for safe haven investments, influenced silver futures here.
Meanwhile, in Singapore, silver dropped 0.50% to $22.58 an ounce.
Besides, a weakening trend at the spot markets due to subdued demand put pressure on the metal prices.
At the Multi Commodity Exchange, the July contract lost Rs 273, or 0.68%, to Rs 42,969 per kg, with a turnover of 1,790 lots.
The September contract dropped by Rs 288, or 0.66%, to Rs 43,500 per kg, in a business turnover of 72 lots.
Analysts said a weak trend in global markets as investors reduced holding and strengthening dollar reduced demand for safe haven investments, influenced silver futures here.
Meanwhile, in Singapore, silver dropped 0.50% to $22.58 an ounce.
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First Published: May 17 2013 | 12:44 PM IST