 "Silver futures decline 1.1% on global cues")
Silver prices moved down by 1.11% to Rs 38,859 per kg in futures trade today as speculators trimmed positions amid weak cues from global markets.
At the Multi Commodity Exchange, silver for delivery in March next year traded lower by Rs 436, or 1.11%, to Rs 38,859 per kg in a business turnover of one lot.
Similarly, the white metal for delivery in December declined by Rs 310, or 0.80%, to Rs 38,206 per kg in a business volume of 798 lots.
Market analysts said a weak trend in the Asian region as the outlook for higher US interest rates and a stronger dollar cut demand for precious metals as hedges against inflation led to the fall in silver prices at futures trade here.
At the Multi Commodity Exchange, silver for delivery in March next year traded lower by Rs 436, or 1.11%, to Rs 38,859 per kg in a business turnover of one lot.
Similarly, the white metal for delivery in December declined by Rs 310, or 0.80%, to Rs 38,206 per kg in a business volume of 798 lots.
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In the international market, silver traded 0.47% down at $16.89 an ounce in Singapore, the lowest since March 2010.
Market analysts said a weak trend in the Asian region as the outlook for higher US interest rates and a stronger dollar cut demand for precious metals as hedges against inflation led to the fall in silver prices at futures trade here.