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Silver futures down 0.77% on global cues

Speculators trimmed their positions, tracking a weak trend overseas

A trader displays silver ornaments inside his shop in Ahmedabad
Press Trust of India New Delhi
Last Updated : May 07 2013 | 11:27 AM IST
Silver prices fell by 0.77% to Rs 45,575 per kg in futures trade today as speculators trimmed their positions, tracking a weak trend overseas.

At the Multi Commodity Exchange, the September contract traded Rs 355, or 0.77%, lower at Rs 45,575 per kg in business turnover of 24 lots.

The July contract declined by Rs 343, or 0.76%, to Rs 44,825 per kg in business volume of 1,081 lots.

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In the international market, silver traded 1.1% lower at $23.75 an ounce in Singapore today.

Market analysts said a subdued trend in precious metals in the global markets on speculation that physical purchases may be slowing after recent rise, led to fall in silver prices at futures trade here.

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First Published: May 07 2013 | 11:25 AM IST

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