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Silver futures weaken by 0.57% on sluggish demand

Press Trust of India  |  New Delhi 

Silver prices dropped by 0.57 per cent to Rs 36,770 per kg in futures trade Thursday as participants reduced their exposure, taking negative cues from spot market on subdued demand, ignoring a firm trend overseas.

At Multi Commodity Exchange, silver for delivery in March moved down by Rs 209, or 0.57 per cent to Rs 36,770 per kg in business turnover of 816 lots.

Likewise, the for delivery in December lost Rs 185, or 0.51 per cent to Rs 35,939 per kg in 1053 lots.

Analysts attributed the slide in silver futures to off-loading of positions by traders owing to slackened demand from consuming industries in the spot market but a firm trend overseas, restricted the fall.

Globally, silver rose 0.28 per cent to USD 14.33 an ounce in

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 29 2018. 12:10 IST