Silver futures slide 0.5% on weak global trend

Tracking a weak global trend, silver futures prices today fell by Rs 206, or 0.50%, to Rs 40,744 per kg, as speculators reduced exposures.

 

At the Multi Commodity Exchange, silver prices for delivery in September fell by Rs 206, or 0.50%, to Rs 40,744 per kg in business turnover of 930 lots.

 

Similarly, the white metal prices for delivery in far- month December lost Rs 176, or 0.42%, at Rs 41,475 per kg in 36 lots.

 

Analysts said a weak trend in the precious metals overseas on concern last week's gain may deter physical purchases, while investors weighed the Federal Reserve's next move on stimulus, mainly pulled down silver prices at futures trade.

 

Meanwhile, silver shed 0.80% to $19.81 an ounce in Singapore today.