ET:Silver prices decline by 0.56 pc in futures trade
NEW DELHI: Tracking a weak trend overseas, silver prices fell by 0.56 per cent to Rs 43,365 per kg in futures trade today as speculators engaged in off-loading positions.
At the Multi Commodity Exchange, silver for delivery in July lost Rs 245, or 0.56 per cent, to Rs 43,365 per kg, with a turnover of 1,115 lots.
Similarly, silver for delivery in far-month September dropped by Rs 233, or 0.53 per cent, to Rs 44,004 per kg, in a business turnover of 28 lots.
Analysts said a weak trend in global markets as the dollar strengthened before data that's forecast to show the US economy is improving, boosting the case for reduced stimulus, and as higher prices damped physical demand, influenced silver futures here.
Meanwhile, in Singapore, silver dropped 0.70 per cent to USD 22.53 an ounce.
