Silver futures fall 0.3% on overseas cues
Speculators partially offloaded positions amidst a weak global trend
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Silver prices fell 0.29% to Rs 42,131 per kg in futures trade today as speculators partially offloaded positions amidst a weak global trend.
At the Multi Commodity Exchange, silver for delivery in September moved down by Rs 124, or 0.29%, to Rs 42,131 per kg in a business turnover of 67 lots.
Similarly, the white metal for delivery in December declined by Rs 110, or 0.26%, to Rs 42,835 per kg in 158 lots.
Market analysts said speculators trimmed positions in tandem with a weak global trend, influencing silver prices at futures trade here.
Besides, profit-booking at prevailing levels too weighed on silver prices, they said.
Meanwhile, silver traded lower at $19.49 an ounce in Singapore today from $19.46 on August 29.
At the Multi Commodity Exchange, silver for delivery in September moved down by Rs 124, or 0.29%, to Rs 42,131 per kg in a business turnover of 67 lots.
Similarly, the white metal for delivery in December declined by Rs 110, or 0.26%, to Rs 42,835 per kg in 158 lots.
Market analysts said speculators trimmed positions in tandem with a weak global trend, influencing silver prices at futures trade here.
Besides, profit-booking at prevailing levels too weighed on silver prices, they said.
Meanwhile, silver traded lower at $19.49 an ounce in Singapore today from $19.46 on August 29.
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First Published: Sep 01 2014 | 11:35 AM IST