ET:Silver futures under pressure on Asian cues, sheds 1.44%
NEW DELHI: Silver prices fell by 1.44 per cent to Rs 52,938 per kg in early trade in 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 by 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 Asia region, silver fell by 3.19 per cent to USD 28.79 an ounce in early trade today.
Market analysts said ratings agency 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.
