Silver down 0.8% on weak global cues
Metal for delivery in September contracts traded lower by Rs 359, or 0.82%
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Amid a weakening trend overseas, silver prices moved down 0.84% to Rs 44,525 per kg in futures trade today as speculators cut down their bets.
At the Multi Commodity Exchange, silver for delivery in far-month December fell by Rs 377, or 0.84% to Rs 44,525 per kg in a business turnover of 168 lots.
Likewise, the white metal for delivery in September contracts traded lower by Rs 359, or 0.82% to Rs 43,618 per kg in 503 lots.
Market analysts said offloading of positions in tandem with a weak trend in precious metals in global markets, kept pressure on silver prices at futures trade.
Globally, silver fell 1.18% to $18.43 an ounce in Singapore.
At the Multi Commodity Exchange, silver for delivery in far-month December fell by Rs 377, or 0.84% to Rs 44,525 per kg in a business turnover of 168 lots.
Likewise, the white metal for delivery in September contracts traded lower by Rs 359, or 0.82% to Rs 43,618 per kg in 503 lots.
Market analysts said offloading of positions in tandem with a weak trend in precious metals in global markets, kept pressure on silver prices at futures trade.
Globally, silver fell 1.18% to $18.43 an ounce in Singapore.
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First Published: Aug 29 2016 | 11:42 AM IST