Silver futures down at Rs 55,110 per kg

September 2, 2013

New Delhi-INDIA  (Sept 2)   Silver prices drifted 0.27 per cent to trade at Rs 55,110 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 December traded lower by Rs 150 or 0.27 per cent Rs 55,110 per kg in a business turnover of 1,860 lots.

Similarly, the white metal for delivery in September fell Rs 102 or 0.19 per cent to Rs 53,110 per kg in 1,869 lots.

Market analysts said the fall in silver futures was mostly attributed to a weak trend overseas as prospects for an attack against Syria receded, and on bets that the US Federal Reserve will begin to pare stimulus as the economy improves.

Meanwhile, silver fell 1.9 per cent to $23.08 an ounce in Singapore.

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