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This is an archive article published on July 1, 2011

Silver futures fall on reduced offtake,weak global cues

Silver futures prices fell by Rs 364 to Rs 51,947 per kg on Friday.

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Silver futures prices fell by Rs 364 to Rs 51,947 per kg on Friday as speculators booked profits at existing high levels,driven by a weakening global trend.

At the Multi Commodity Exchange,silver for delivery in September fell by Rs 364 to Rs 51,947 per kg,with a business turnover of 7,545 lots.

Similarly,the metal for delivery in July declined by Rs 193,or 0.38 per cent,to Rs 50,770 per kg,with a trade volume of 1,849 lots.

Market analysts said reduced their positions after fall in it prices in global markets.

Meanwhile,silver lost 0.95 per cent to USD 34.39 an ounce in the Asian region.

 

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