TH:Silver futures declines to Rs 52,938 on global cues
Silver prices fell 1.44 per cent to Rs 52,938 per kg in early trade at the futures market today after speculators reduced their exposure, taking cues from a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in March fell Rs 776 or 1.44 per cent to Rs 52,938 per kg with an open interest for 6,197 lots. In a similar fashion, the metal for delivery in May lost Rs 779 or 1.42 per cent to Rs 54,110 per kg with a trading volume of 265 lots.
In the Asian region, silver fell 3.19 per cent to $28.79 an ounce in early trade today.
Market analysts said Fitch warning of a possible downgrade of France’s sovereign debt kept investors on the edge about the situation in Europe, reducing the appeal for precious metals.
