Silver futures decline to Rs 50,450 per kg

September 27, 2013

New Delhi-INDIA  (Sept 27)  Amid a weak trend in the Asian region, silver prices fell Rs 347 or 0.68 per cent to trade at Rs 50,450 per kg at the futures trade today as speculators engaged in reducing their exposures.

On the Multi Commodity Exchange, silver for delivery in far-month May traded lower by Rs 347 or 0.68 per cent at Rs 50,450 per kg in a business turnover of two lots.

In a similar fashion, the white metal for delivery in December fell Rs 308 or 0.61 per cent to trade at Rs 48,341 per kg in 707 lots.

Market analysts said the fall in silver prices at the futures trade was mostly in tandem with a subdued trend in the Asian region after an unexpected decline in US jobless claims boosted speculation that the Federal Reserve will taper stimulus.

Meanwhile, silver fell 0.82 per cent to $21.55 an ounce in Singapore.

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