Silver falls to Rs. 42,130 per kg at futures trade

August 21, 2014

New Delhi-India (Aug 21)  Silver prices fell Rs. 211 to Rs. 42,130 per kg at the futures trade today as speculators engaged in reducing positions largely in tune with a weak trend overseas.

On the Multi Commodity Exchange, silver for delivery in September traded lower by Rs. 211 or 0.5 per cent to Rs. 42,130 per kg in a business turnover of 331 lots.

Similarly, the white metal for delivery in far-month December declined by Rs. 181 or 0.42 per cent to Rs. 42,897 per kg in a business volume of 35 lots.

In the international market, silver fell 0.41 per cent to $19.37 an ounce in Singapore.

Market analysts said a subdued trend in the global market as minutes of the Federal Reserve’s last meeting signalled that policy makers may increase the borrowing costs earlier than expected amid strengthening dollar, reducing the appeal of precious metals, put pressure on silver futures here.

Source: TheHindu

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