Silver futures down 0.45% on global cues, profit-booking

Written by PTI | New Delhi | Updated: Jun 24 2014, 17:37pm hrs
Tracking a weak trend in the precious metals overseas, silver prices fell by 0.45 per cent to Rs 44,244 per kg in futures trade today as speculators reduced their exposures.

At the Multi Commodity Exchange, silver for delivery in July fell by Rs 201, or 0.45 per cent, to Rs 44,244 per kg in business turnover of 468 lots.

On the similar lines, the white metal for delivery in far-month September declined by Rs 182, or 0.41 per cent, to Rs 44,683 per kg in business volume of 21 lots.

Market analysts said besides profit-booking, a subdued trend in precious metals overseas as investors assessed the US economic recovery and the impact on borrowing costs, amidst signs of slowing physical demand, attributed fall in silver prices in futures trade here.

In the international market, silver fell 0.1 per cent to USD 20.86 an ounce in Singapore.