Silver moves down in futures trade on global cues

Silver prices moved down by 0.81 per cent to Rs 63,960 per kg in futures trade.

Written by Agencies | New Delhi | Published:September 20, 2012 1:26 pm

Silver prices moved down by 0.81 per cent to Rs 63,960 per kg in futures trade today as speculators reduced their positions amid negative cues from the global markets.

At the Multi Commodity Exchange,silver for delivery in December moved down by Rs 520,or 0.81 per cent to Rs 63,960 per kg in business turnover of 11,178 lots. Likewise,the white metal for delivery in March contract declined by Rs 538,or 0.81 per cent to Rs 65,681 per kg in 456 lots.

Market analysts said speculators offloaded their positions in line with a weak global trend that kept pressure on silver prices at futures trade.

Silver fell 0.9 per cent to 34.29 dollar an ounce in Singapore.

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