Silver down 0.9% on global cues

March 10, 2014

Mumbai-India  (Mar 10)  Amid a weak trend in global markets, silver prices fell by 0.48% to Rs 45,785 per kg in futures trade today, as speculators trimmed their positions.

At the Multi Commodity Exchange, silver for delivery in May fell by Rs 420, or 0.91%, to Rs 45,785 per kg in business turnover of 814 lots.

Also, the white metal for delivery in far-month July delivery contracts declined by Rs 405, or 0.86%, to Rs 46,732 per kg in business volume of 18 lots.

Market analysts said a subdued trend in the global markets as US jobs data backed the case for the Federal Reserve to keep on reducing stimulus, mainly weighed on silver futures here.

In the international market, silver fell as much as 1.6% to $20.61 an ounce, the lowest since February 14, in Singapore.

Source:  Business-Standard

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