Silver futures slide to Rs 49,744 per kg

New Delhi-INDIA  (Sept 23)  Tracking a weak global trend, silver futures prices fell 1.59 per cent to Rs 49,744 per kg today as speculators trimmed their positions.

On the Multi Commodity Exchange, silver prices for delivery in far-month March plunged by Rs 802 or 1.59 per cent to Rs 49,744 per kg in a business turnover of 29 lots.

Similarly, the white metal prices for delivery in December lost Rs 620 or 1.46 per cent to trade at Rs 48,586 per kg in 2,050 lots.

Market analysts said a weak trend in the precious metals overseas, as investors weighed the outlook for Fed stimulus after a Federal Reserve policy maker said a small taper may occur next month, mainly attributed to the fall in silver prices at the futures trade.

Globally, silver for spot delivery sank 1.4 per cent to $21.48 an ounce in Singapore.