Business Standard

Silver futures down 0.9% on global cues

Speculators engaged in trimming positions amid a weakening trend overseas

Press Trust of India New Delhi
Silver prices fell 0.93% to Rs 44,300 per kg in futures trade today as speculators engaged in trimming positions amid a weakening trend overseas.

At the Multi Commodity Exchange, silver for delivery in July traded lower by Rs 415, or 0.93%, to Rs 44,300 per kg in a business turnover of six lots.

The white metal for delivery in September declined by Rs 212, or 0.47%, to Rs 44.840 per kg in 1,241 lots.

In the international market, silver traded 0.30% lower at USD 21.09 an ounce after rising to USD 21.29 yesterday, the highest price since March 17.

Market analysts said a weak trend in precious metals in overseas markets before employment data that may show the US economy is gaining momentum weighed on silver prices in futures trade here.

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First Published: Jul 03 2014 | 12:27 PM IST

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