Silver futures down Rs 108 per kg on lower global trend

Tracking a weak global trend, silver prices moved down by Rs 108 to Rs 37,549 per kg in futures trade today as speculators reduced their exposure.

At the Multi Commodity Exchange, silver for delivery in far-month March next year contracts moved down by Rs 108, or 0.29 per cent, to Rs 37,549 per kg in a business turnover of two lots.

Also, the white metal for delivery in December contracts declined Rs 66, or 0.18 per cent, to Rs 36,872 per kg in 212 lots.

Analysts said speculators trimmed positions in step with a weak global trend on odds that the Federal Reserve may raise rates sooner after data hinted at strength in the US economy, reducing appeal of the precious metals, which weighed.
 

Meanwhile, silver shed 0.16 per cent to USD 15.81 an ounce in Singapore.