Silver futures down 0.72 pc on weak global cues

March 24, 2014

New Delhi-India (Mar 23)   Silver prices fell 0.72 per cent to trade at Rs 44,329 per kg in futures trade today as speculators reduced their exposures on weak cues from global markets.

At the Multi Commodity Exchange, silver for delivery in May dipped by Rs 322, or 0.72 per
cent, to Rs 44,329 per kg in business turnover of 951 lots.

In a similar fashion, the white metal for delivery in July traded lower by Rs 307, or
0.67 per cent, at Rs 45,228 per kg in 49 lots.

Analysts said trimming of positions by speculators amid a weak trend overseas on
speculation that US interest rates will increase next year, mainly weighed on silver futures here.

Meanwhile, silver fell by 1.1 per cent to USD 20.10 an ounce in Singapore today, the lowest since February 11.

Source:  EconomicTimes

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