Silver futures down 1.05 pc on lower global trend

Written by Press Trust of India | New Delhi | Updated: Aug 30 2013, 00:11am hrs
Tracking a weak global trend, silver futures prices moved down by 1.05 per cent to Rs 55,189 per kg today as speculators offloaded their positions.

At the Multi Commodity Exchange, silver for delivery in September moved down by Rs 587, or 1.05 per cent, to Rs 55,189 per kg in business turnover of 13693 lots.

Likewise, the white metal for delivery in December lost Rs 320, or 0.56 per cent to Rs 57053 per kg in 2999 lots.

Market analysts said speculators offloaded their positions in tandem with a weak global trend mainly pulled down silver prices at futures trade.

Meanwhile, silver slumped 1.4 per cent to USD 24 an ounce in London.