Silver down 0.2% on weak trend overseas
Analysts said a weak trend in global markets on prospects for further cuts to the Federal Reserve's stimulus programme as the US economy shows signs of recovery, influenced silver futures
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Tracking a weak trend overseas, silver prices fell by 0.23% to Rs 42,190 per kg in futures trade today as speculators engaged in offloading positions.
At the Multi Commodity Exchange, silver for delivery in May lost Rs 99, or 0.23%, to Rs 42,190 per kg, with a turnover of 435 lots.
Similarly, silver for delivery in July dropped by Rs 90, or 0.21%, to Rs 42,940 per kg, in a business turnover of 23 lots.
Analysts said a weak trend in global markets on prospects for further cuts to the Federal Reserve's stimulus programme as the US economy shows signs of recovery, influenced silver futures here.
Meanwhile, silver dropped 0.80% to $19.46 an ounce, extending losses for the fourth straight day in Singapore.
At the Multi Commodity Exchange, silver for delivery in May lost Rs 99, or 0.23%, to Rs 42,190 per kg, with a turnover of 435 lots.
Similarly, silver for delivery in July dropped by Rs 90, or 0.21%, to Rs 42,940 per kg, in a business turnover of 23 lots.
Analysts said a weak trend in global markets on prospects for further cuts to the Federal Reserve's stimulus programme as the US economy shows signs of recovery, influenced silver futures here.
Meanwhile, silver dropped 0.80% to $19.46 an ounce, extending losses for the fourth straight day in Singapore.
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First Published: Apr 16 2014 | 11:16 AM IST