Silver futures weak on global cues; down 0.31 per cent

November 7, 2013

New Delhi-India (Nov 7)  Silver prices fell by 0.31 per cent to Rs 50,035 per kg in futures trade today after speculators reduced exposures on weak cues from global markets.

At the Multi Commodity Exchange, silver for delivery in March next year lost Rs 157,or 0.31 per cent, to Rs 50,035 per kg, with a turnover of 13 lots.

Similarly, silver for delivery in December eased by Rs 128, or 0.26 per cent, to Rs 48,521 per kg, with a business turnover of 486 lots.

Analysts said a weak trend in global markets as investors await the release of US data on jobs and economic growth, mainly weighed on silver futures prices here.

They said removing of an additional 5 per cent margin on the future contracts of silver due to less volatility in prices by commodity market regulator FMC also influenced the sentiments.

Meanwhile, in Singapore, silver fell 0.20 per cent to USD 21.76 an ounce.

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