 "Silver down 0.5% on weak global cues")
Silver prices fell by Rs 211 to Rs 42,130 per kg in futures trade today as speculators engaged in reducing positions largely in tune with a weakening trend overseas.
At the Multi Commodity Exchange, silver for delivery in September traded lower by Rs 211, or 0.50%, to Rs 42,130 per kg in a business turnover of 331 lots.
Similarly, the white metal for delivery in far-month December declined by Rs 181, or 0.42%, to Rs 42,897 per kg in a business volume of 35 lots.
Market analysts said a subdued trend in the global markets as minutes of the Federal Reserve's last meeting signalled that policy makers may increase borrowing costs earlier than expected amid strengthening dollar, reducing appeal of precious metals, put pressure on silver futures here.
At the Multi Commodity Exchange, silver for delivery in September traded lower by Rs 211, or 0.50%, to Rs 42,130 per kg in a business turnover of 331 lots.
Similarly, the white metal for delivery in far-month December declined by Rs 181, or 0.42%, to Rs 42,897 per kg in a business volume of 35 lots.
More From This Section
In the international market, silver fell 0.41% to USD 19.37 an ounce in Singapore.
Market analysts said a subdued trend in the global markets as minutes of the Federal Reserve's last meeting signalled that policy makers may increase borrowing costs earlier than expected amid strengthening dollar, reducing appeal of precious metals, put pressure on silver futures here.