Silver futures down by 0.7% on weak global cues
Participants off-loaded their positions largely in tune with a weakening trend overseas
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Silver prices plunged by Rs 249 to Rs 35,540 per kg in futures trade today after participants off-loaded their positions largely in tune with a weakening trend overseas.
At the Multi Commodity Exchange, silver for delivery in far-month December contracts traded lower by Rs 249, or 0.70%, to Rs 35,540 per kg in business turnover of 16 lots.
Similarly, the white metal for delivery in September contracts declined by Rs 221, or 0.63%, to Rs 34,779 per kg in business volume of 424 lots.
In the international market, silver slide 0.2% to $15.12 an ounce in Singapore. The metal had reached $14.68 an ounce in yesterday's trade, the lowest level since December 1.
Market analysts said a subdued trend in precious metals in the global markets, put pressure on silver prices in futures trade here.
At the Multi Commodity Exchange, silver for delivery in far-month December contracts traded lower by Rs 249, or 0.70%, to Rs 35,540 per kg in business turnover of 16 lots.
Similarly, the white metal for delivery in September contracts declined by Rs 221, or 0.63%, to Rs 34,779 per kg in business volume of 424 lots.
In the international market, silver slide 0.2% to $15.12 an ounce in Singapore. The metal had reached $14.68 an ounce in yesterday's trade, the lowest level since December 1.
Market analysts said a subdued trend in precious metals in the global markets, put pressure on silver prices in futures trade here.
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First Published: Jul 09 2015 | 11:28 AM IST