ET:Silver futures down 1.00 pc on lower global trend
NEW DELHI: Silver prices moved down by 1.00 per cent to Rs 43,963 per kg in futures trade today as speculators offloaded their positions in tandem with a weak global trend.
At the Multi Commodity Exchange, silver for delivery in March dropped by Rs 444, or 1.00 per cent to Rs 43,963 per kg in business turnover of 12,620 lots.
Likewise, the white metal for delivery in May declined by Rs 438, or 0.97 per cent to Rs 44,903 per kg in 323 lots.
Market analysts said offloading of positions by speuclators in line with a weakening global trend after the Federal Reserve reduced its stimulus and on speculation demand will slow in China before the Lunar New Year holiday, mainly put pressure on silver prices at futures trade.
Meanwhile, silver slid 1.7 per cent to USD 19.41 an ounce in London.
