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Silver futures plunge 1.1% on global cues

Speculators engaged in off-loading positions, affecting prices

Press Trust of India New Delhi
Silver prices fell over one% to Rs 36,124 per kg in futures trade today as speculators engaged in off-loading positions.

At the Multi Commodity Exchange, silver for delivery in March next year lost Rs 398, or 1.09%, to Rs 36,124 per kg, with a turnover of 50 lots.

Similarly, silver for delivery in December dropped by Rs 372, or 1.04%, to Rs 35,425 per kg, in a business turnover of 1,361 lots.

Marketmen said a weak trend in global markets after the US Federal Reserve ended asset purchases, mainly put pressure on silver futures here.

Meanwhile, in Singapore, silver dropped to $15.77 an ounce, the lowest price since February 2010.
 

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First Published: Nov 03 2014 | 12:21 PM IST

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