Silver futures decline to Rs 50,004 per kg

September 24, 2013

New Delhi-INDIA  (Sept 24)   Silver prices fell 0.93 per cent to trade at Rs 50,004 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 far-month March was down by Rs 471 or 0.93 per cent to Rs 50,004 per kg in a business turnover of 22 lots.

In a similar fashion, the white metal for delivery in December traded lower by Rs 384 or 0.78 per cent at Rs 49,009 per kg in 3,133 lots.

Market analysts said offloading of positions by speculators following a weak trend overseas after a Federal Reserve official said policy makers may start reducing the US fiscal stimulus as early as next month, weighed on silver futures prices here.

Meanwhile, the white metal fell 0.25 per cent to $21.59 an ounce in Singapore today.

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