Silver futures down at Rs 38,436 per kg

Mumbi-India (Jun 4)  Silver prices were down by 0.16 per cent at Rs. 38,436 per kg at the futures trade today as participants offloaded position in line with a weak global trend.

On the Multi Commodity Exchange, silver for delivery in September declined by Rs. 62 or 0.16 per cent to Rs. 38,436 per kg in a business turnover of 95 lots.

Similarly, the metal for delivery in July shed Rs. 57 or 0.15 per cent to Rs. 37,891 per kg in 3,436 lots.

Market analysts said offloading of positions by speculators in tandem with a weak global trend mainly kept pressure on silver prices at the futures trade.

Globally, silver lost 0.2 per cent to $16.49 an ounce in Singapore.

Source: TheHindu