Silver falls by 0.7% as speculators trim positions
Offloading of positions by speculators amid a weak trend in global markets mainly put pressure on prices
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Silver prices fell by Rs 264 to Rs 37,899 per kg in futures trade today as speculators reduced positions amid weakness in global markets.
At the Multi Commodity Exchange, silver for delivery in May lost Rs 264, or 0.69%, to Rs 37,899 per kg, with a turnover of 1,003 lots.
Similarly, silver for delivery in far-month July dropped by Rs 254, or 0.66%, to Rs 38,355 per kg, in a business turnover of 21 lots.
Marketmen said offloading of positions by speculators amid a weak trend in global markets mainly put pressure on silver futures here.
Meanwhile, silver dropped 0.5% to $16.91 an ounce in Singapore.
At the Multi Commodity Exchange, silver for delivery in May lost Rs 264, or 0.69%, to Rs 37,899 per kg, with a turnover of 1,003 lots.
Similarly, silver for delivery in far-month July dropped by Rs 254, or 0.66%, to Rs 38,355 per kg, in a business turnover of 21 lots.
Marketmen said offloading of positions by speculators amid a weak trend in global markets mainly put pressure on silver futures here.
Meanwhile, silver dropped 0.5% to $16.91 an ounce in Singapore.
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First Published: Apr 07 2015 | 11:28 AM IST