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Silver down 0.3% as global trend weakens

Metal for delivery in September was down Rs 86, or 0.25%

Press Trust of India New Delhi
Tracking a weak trend overseas, silver prices fell 0.31 per cent to Rs 34,935 per kg in futures trade today as traders trimmed their positions.

In futures trading at Multi Commodity Exchange, silver for delivery in far-month December lost Rs 111, or 0.31 per cent, to Rs 35,626 per kg with a turnover of 74 lots.

Similarly, white metal for delivery in September was down Rs 86, or 0.25 per cent, at Rs 34,935 per kg in business turnover of 1,788 lots.

Marketmen said the fall in silver futures was mostly due to a weakening trend in global markets after China weakened the yuan's daily reference rate by a record to resist a slump in exports from Asia's top economy, boosting the dollar and hurting demand for bullion.
 

Meanwhile, silver fell 0.9 per cent to USD 15.11 an ounce in Singapore today.

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First Published: Aug 11 2015 | 2:02 PM IST

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