Silver futures down 0.36% on weak global cues

November 18, 2013

New Delhi (Nov 18)  Silver prices  fell by 0.36% to Rs 46,571 per kg in futures trade today as speculators trimmed positions largely in tune with a weakening trend overseas as a rally in global stocks curbed demand for the precious metals.

At the Multi Commodity Exchange, silver for delivery in December traded lower by Rs 170, or 0.36%, to Rs 46,571 per kg in a business turnover of 208 lots.

Similarly, the white metal for delivery in March declined by Rs 164, or 0.34%, to Rs 47,892 per kg in business volume of 7 lots.

In the international market, silver traded 0.4% lower at $20.71 an ounce in Singapore.

Market analysts said a subdued trend in precious metals in the global markets as a rally in global stocks reduced demand for the metal as an alternative investment, mainly put pressure on the white metal prices at futures trade here.

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