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This is an archive article published on May 16, 2012

Silver futures down 1.28% on weak global trend

Amid a weak trend in overseas markets,silver prices fell by 1.28 per cent to Rs 52,278 per kg in futures trade today.

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Amid a weak trend in overseas markets,silver prices fell by 1.28 per cent to Rs 52,278 per kg in futures trade today.

At the Multi Commodity Exchange,silver for delivery in July fell by Rs 679,or 1.28 per cent,to Rs 52,278 per kg in business turnover of 5,808 lots.

Similarly,the metal for delivery in September declined by Rs 661,or 1.22 per cent,to Rs 53,692 per kg in 269 lots.

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Analysts said weak trend in overseas markets as strengthening dollar reduced appeal for the precious metals led to a fall in silver prices at futures trade.

Meanwhile,silver fell by 1.30 per cent to USD 27.36 an ounce in Singapore,the lowest level since December 30.

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