ET:Silver futures down on global cues, subdued spot demand
NEW DELHI: Amid weak trend overseas and subdued spot demand at markets, silver prices moved down by Rs 290 to Rs 54,193 per kg in futures trade today.
At the Multi Commodity Exchange, silver for delivery in July fell by Rs 290, or 0.53 per cent, to Rs 54,193 per kg, with a business turnover of 1,877 lots.
Similarly, the metal for delivery in September lost Rs 298, or 0.53 per cent, to Rs 55,582 per kg, with a business turnover of 62 lots.
Globally, silver prices fell by 0.5 per cent to $ 27.76 an ounce at midday today in Singapore.
Marketmen attributed fall in silver futures prices was largely in line with a weakening trend overseas as fresh euro-zone worries drove investors to seek the dollar as a safe haven over the precious metals.
