 "Silver down by 0.4% on global cues")
Silver prices were down by 0.36% to Rs 34,022 per kg in futures trade today largely in tune with a weakening trend overseas as strong dollar eroded demand for the precious metals.
At the Multi Commodity Exchange, silver for delivery in September remained under pressure and lost another Rs 123 or 0.36% to Rs 34,022 per kg in a business turnover of 462
lots.
Analysts said sustained offloading of positions by participants in line with a weak global trend where precious metals weakened as strong dollar and the prospects of rising US interest rates led to fall in silver prices at futures trade here.
Meanwhile, silver fell by another 1.15% to $14.67 an ounce in New York yesterday.
At the Multi Commodity Exchange, silver for delivery in September remained under pressure and lost another Rs 123 or 0.36% to Rs 34,022 per kg in a business turnover of 462
lots.
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Similarly, the white metal for delivery in far-month December was trading Rs 115 or 0.33%, down at Rs 34,795 per kg in three lots.
Analysts said sustained offloading of positions by participants in line with a weak global trend where precious metals weakened as strong dollar and the prospects of rising US interest rates led to fall in silver prices at futures trade here.
Meanwhile, silver fell by another 1.15% to $14.67 an ounce in New York yesterday.