ET:Silver futures down 0.51 per cent on global cues
NEW DELHI: Silver prices fell by 0.51 per cent to trade at Rs 52,170 per kg in futures trade today as participants engaged in reducing their positions amid a weakening trend in the global markets.
At the Multi Commodity Exchange, silver for delivery in December down Rs 269, or 0.51 per cent, to Rs 52,170 per kg in a business turnover of 2,290 lots.
In a similar fashion, the white metal for delivery in far-month March traded lower by Rs 177, or 0.33 per cent, at Rs 53,478 per kg in 14 lots.
Market analysts said offloading of positions by speculators following a weak trend overseas on speculation that the US Federal Reserve will commit to reducing stimulus next week, weighed on silver futures prices here.
Meanwhile, silver fell by 1.40 per cent to 22.87 dollar an ounce in Singapore today.
