Silver futures down 0.97 per cent on global cues

December 8, 2013

New Delhi-India (Dec 8)  Silver prices fell by 0.97 per cent to Rs 44,900 per kg in futures trade today after speculators trimmed positions amid a weak trend in the global markets.

At the Multi Commodity Exchange, silver for delivery in far-monthly May next year contracts traded Rs 440, or 0.97 per cent, lower at Rs 44,900 per kg in business turnover of six lots. 

Similarly, the white metal for delivery in March declined by Rs 319, or 0.94 per cent, to Rs 44,042 per kg in business volume of 562 lots.

In the international market, silver traded 1.42 per cent lower at $19.44 an ounce in New York yesterday.

Market analysts said a subdued trend in precious metals in the global markets as investors await US payrolls figures after economic data boosted speculation the Federal Reserve may start trimming its monetary stimulus sooner than estimated, led to fall in silver prices at futures trade here.

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