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Silver futures decline Rs 44 per kg on tepid demand

Press Trust of India  |  New Delhi 

Silver futures traded lower by Rs 44 at Rs 44,075 per kg on Tuesday as participants cut down their bets, taking weak cues from overseas markets.

On the Multi Commodity Exchange, silver contracts for December delivery dropped by Rs 44, or 0.1 per cent, to Rs 44,075 per kg in a business turnover of 3,638 lots.

Similarly, the white metal contracts for March next year traded lower by Rs 58, or 0.13 per cent, at Rs 44,926 per kg in a business volume of 89 lots.

In the international market, silver was trading lower by 0.16 per cent to USD 16.97 an ounce in New York.

Analysts said muted demand, weak trend in precious metals in global markets and trimming of positions by speculators weighed on silver futures here.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 01 2019. 11:50 IST