Silver down 0.6% on weak global trend
Weak trend trend overseas, eroding demand for the precious metals, pulled down silver prices
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Silver futures dropped 0.66% to Rs 36,331 per kg today as speculators reduced their exposures amid a weak global trend.
At the Multi Commodity Exchange, silver for delivery in December drifted by Rs 243, or 0.66%, to Rs 36,331 per kg in a business turnover of 1,258 lots.
On similar lines, silver for delivery in March next year fell by Rs 243, or 0.65%, to Rs 37,055 per kg in 24 lots.
Analysts said a weak trend in precious metals overseas as the US Federal Reserve ended its asset-purchase programme amid signs of an improving economy, eroding demand for the precious metals, mainly pulled down silver prices at futures trade here.
Meanwhile, silver lost 2.07% to $16.12 an ounce in Singapore today, the lowest since February 2010.
At the Multi Commodity Exchange, silver for delivery in December drifted by Rs 243, or 0.66%, to Rs 36,331 per kg in a business turnover of 1,258 lots.
On similar lines, silver for delivery in March next year fell by Rs 243, or 0.65%, to Rs 37,055 per kg in 24 lots.
Analysts said a weak trend in precious metals overseas as the US Federal Reserve ended its asset-purchase programme amid signs of an improving economy, eroding demand for the precious metals, mainly pulled down silver prices at futures trade here.
Meanwhile, silver lost 2.07% to $16.12 an ounce in Singapore today, the lowest since February 2010.
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First Published: Oct 31 2014 | 12:30 PM IST