Silver futures decline to Rs 52,170 per kg

New Delhi-INDIA  (Sept 12)  Silver prices fell 0.51 per cent to trade at Rs 52,170 per kg at the futures trade today as participants engaged in reducing their positions amid a weak trend in the global market.

On the Multi Commodity Exchange, silver for delivery in December fell Rs 269 or 0.51 per cent to Rs 52,170 per kg in a business turnover of 2,290 lots.

In a similar fashion, the white metal for delivery in far-month March traded lower by Rs 177 or 0.33 per cent at Rs 53,478 per kg in 14 lots.

Market analysts said offloading of positions by speculators following a weak trend overseas on speculation that the US Federal Reserve will commit to reducing its stimulus next week, weighed on silver futures prices here.

Meanwhile, silver fell 1.4 per cent to $22.87 an ounce in Singapore today.