Silver futures down 0.63% on global cues
Falling oil prices, stronger dollar take the shine off the precious metal
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Silver prices fell by 0.63 per cent to Rs 34,490 per kg in futures trade today amid a weak trend in the global market as strengthening dollar reduced appeal of the precious metal.
At the Multi Commodity Exchange, silver for delivery in December fell by Rs 217, or 0.63 per cent, to Rs 34,490 per kg in a business turnover of 1,103 lots.
The March contract declined by Rs 217, or 0.61 per cent, to Rs 35,201 per kg in a business volume of 34 lots.
Market analysts said a subdued trend in the precious metals overseas as oil prices at four-year low and strengthening dollar eroded demand for an inflation hedge, led to fall in silver prices at futures trade here.
In the international market, silver slid 0.70 per cent to $15.55 an ounce in Singapore.
At the Multi Commodity Exchange, silver for delivery in December fell by Rs 217, or 0.63 per cent, to Rs 34,490 per kg in a business turnover of 1,103 lots.
The March contract declined by Rs 217, or 0.61 per cent, to Rs 35,201 per kg in a business volume of 34 lots.
Market analysts said a subdued trend in the precious metals overseas as oil prices at four-year low and strengthening dollar eroded demand for an inflation hedge, led to fall in silver prices at futures trade here.
In the international market, silver slid 0.70 per cent to $15.55 an ounce in Singapore.
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First Published: Nov 14 2014 | 12:35 PM IST