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This is an archive article published on June 26, 2012

Silver futures prices down on global cues,sluggish spot demand

Silver futures prices shed Rs 124 to Rs 54,850 per kg today as speculators reduced positions amid a weak trend in Asian region and sluggish demand.

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Silver futures prices shed Rs 124 to Rs 54,850 per kg today as speculators reduced positions amid a weak trend in Asian region and sluggish demand.

At the Multi Commodity Exchange,silver for delivery in September was trading Rs 124,or 0.23 per cent,lower at Rs 54,850 per kg,with a business turnover of 254 lots.

Similarly,silver for delivery in July dropped by Rs 119,or 0.20 per cent,to Rs 53,556 per kg,with a business turnover of 1,625 lots.

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Analysts said a weak trend in global markets and subdued demand at domestic spot markets put pressure on the silver futures prices here.

Meanwhile,silver traded 0.54 per cent lower at USD 27.39 an ounce in Singapore today.

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