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Silver futures decline on weak global trend

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 4:14 AM IST

Silver prices drifted by Rs 49, or 0.17 per cent, to Rs 18,240 per kg in futures market today as traders reduced their positions in tandem with a weakening global trend. 

At the Multi Commodity Exchange, silver for December fell by Rs 49, or 0.17 per cent, to Rs 29,035 per kg, with an open interest of 2,323 lots. 

The metal for delivery in September month also lost Rs 45, or 0.16 per cent, to Rs 28,914 per kg, with a business turnover of 20,312 lots. 

Marketmen said traders reduced their positions on subdued demand in the spot market and reports of a weakening trend in prices at global markets.   

Meanwhile, silver fell by 0.87 per cent to $18.17 an ounce in Asian region.

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First Published: Aug 10 2010 | 2:50 PM IST

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