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This is an archive article published on August 30, 2012

Silver futures down 0.33 pc tracking global trend

Silver futures prices today fell by Rs 189,or 0.33 per cent,to Rs 57,370 per kg.

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Silver futures prices today fell by Rs 189,or 0.33 per cent,to Rs 57,370 per kg as speculators preferred to reduce positions amid a weak trend overseas.

At the Multi Commodity Exchange,silver for delivery in September was trading Rs 189,or 0.33 per cent,lower at Rs 57,370 per kg,with a turnover of 2,518 lots.

Similarly,silver for delivery in December dropped by Rs 192,or 0.32 per cent,to Rs 59,368 per kg,with a business turnover of 1,158 lots.

Marketmen said besides profit-booking by speculators,a weak trend overseas on speculation that the US Federal Reserve will refrain from additional stimulus amid signs the world8217;s largest economy is improving,kept pressure on the precious metal prices.

Meanwhile,silver fell by 0.5 per cent to USD 30.58 an ounce in Singapore today.

 

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