Silver futures down 0.48 pc on global cues

February 18, 2014

New Delhi-India  Silver prices fell by 0.48 per cent to Rs 47,515 per kg in futures trade today as speculators trimmed their positions at prevailing levels, taking weak cues from the global markets.

At the Multi Commodity Exchange, silver for delivery in March traded lower by Rs 220, or 0.48 per cent, to Rs 47,515 per kg in business turnover of 682 lots.

Similarly, the white metal for delivery in May declined by Rs 214, or 0.44 per cent, to Rs 48,495 per kg in business volume of 47 lots.

In the international market, silver dropped as much as 0.30 per cent to $21.63 an ounce in Singapore.

Market analysts said a subdued trend in precious metals in the global markets on expectations that the Federal Reserve will continue slowing stimulus in the US and the precious metals advance may deter physical purchases and profit-booking by speculators, put pressure on silver futures prices here.

(Source:  Economic Times India)


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