ET:Silver futures fall 0.30 per cent on weak global cues
NEW DELHI: Silver futures weakened by Rs 162, or 0.30 per cent, to trade at Rs 53,701 per kg today as speculators offloaded positions taking cues from weak Asian market.
At the Multi Commodity Exchange, silver for delivery in May declined by Rs 162, or 0.30 per cent, to Rs 53,701 per kg, with business turnover of 91 lots.
Similarly, the metal for delivery in March moved down by Rs 111, or 0.21 per cent, to Rs 52,629 per kg, with trade volume 3,427 lots.
Traders said besides speculators off-loading their positions, weak trend in Asian region as recent gains spurred selling in precious metal, pulling down silver futures prices.
Meanwhile, silver lost 0.7 per cent to USD 29.14 an ounce in Singapore in early trade on Friday.
