Silver prices down 0.55 % on global cues and profit-taking

December 17, 2013

New Delhi-India Silver  prices fell by 0.55 per cent to Rs 45,080 per kg in futures trade today as speculators trimmed their positions, taking weak cues from the global markets.

Besides, profit-taking also put pressure on silver futures.

At the Multi Commodity Exchange, silver for delivery in March next year traded lower by Rs 250, or 0.55 per cent, to Rs 45,080 per kg in business turnover of 389 lots.

Similarly, the white metal for delivery in May 2014 declined by Rs 239, or 0.52 per cent, to Rs 46,027 per kg in business volume of six lots. 
 In the international market, silver traded 0.30 per cent lower at $ 19.92 an ounce in Singapore. 
 Analysts said a subdued trend in precious metals in the global markets as investors await the Federal Reserve's decision on the timeline 
for reducing stimulus in the US and profit-booking by speculators, led to fall in silver futur ..

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