Tuesday, Dec 06, 2022

Silver futures prices decline on weak global cues

Silver prices fell by Rs 227 to Rs 53,317 per kg in futures trade today as speculators reduced positions tracking a weak trend overseas.

Silver prices fell by Rs 227 to Rs 53,317 per kg in futures trade today as speculators reduced positions tracking a weak trend overseas.

At the Multi Commodity Exchange,silver for delivery in September declined by Rs 227,or 0.42 per cent,to Rs 53,317 per kg,with a business turnover of 1,616 lots.

Likewise,the white metal for delivery in December lost Rs 221,or 0.40 per cent,to Rs 54,958 per kg,with a business turnover of 62 lots.

Market analysts attributed the fall in silver futures to a weakening trend in global markets as a stronger dollar,which reached a two-year high,curbed demand for the precious metals as an alternative investment.

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Meanwhile,silver traded 0.29 per cent lower at USD 27.26 in Singapore.

First published on: 10-07-2012 at 12:11:51 pm
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