Silver down by 0.4% on weak global cues
Speculators engaged in reducing positions largely in tune with a weakening trend overseas
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Silver prices declined by Rs 146 to Rs 33,874 per kg in futures trade today as speculators engaged in reducing positions largely in tune with a weakening trend overseas.
At the Multi Commodity Exchange, silver for delivery in was trading down by Rs 146, or 0.43%, at Rs 33,874 per kg in business turnover of 578 lots.
Similarly, the white metal for delivery in far-month December declined by Rs 133, or 0.38%, to Rs 34,629 per kg in a business volume of 10 lots.
In the international market, silver was down 0.3% at $14.7O and ounce in Singapore.
Market analysts said a subdued trend in global markets as the US economy expanded at a faster pace in the second quarter, bolstering expectations of a rate rise this year, put pressure on silver futures here.
At the Multi Commodity Exchange, silver for delivery in was trading down by Rs 146, or 0.43%, at Rs 33,874 per kg in business turnover of 578 lots.
Similarly, the white metal for delivery in far-month December declined by Rs 133, or 0.38%, to Rs 34,629 per kg in a business volume of 10 lots.
In the international market, silver was down 0.3% at $14.7O and ounce in Singapore.
Market analysts said a subdued trend in global markets as the US economy expanded at a faster pace in the second quarter, bolstering expectations of a rate rise this year, put pressure on silver futures here.
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First Published: Jul 31 2015 | 11:57 AM IST