Silver futures fall 1.48% on lower global cues

Written by Press Trust of India | New Delhi | Updated: Aug 18 2014, 18:01pm hrs
Silver prices fell 1.48 per cent to Rs 42,621 per kg in futures trade today as speculators partially offloaded positions amid a weak global trend.

At the Multi Commodity Exchange, silver for delivery in September moved down by Rs 642, or 1.48 per cent, to Rs 42,621 per kg in a business turnover of 864 lots.

Similarly, the white metal for delivery in December declined by Rs 812, or 1.39 per cent, to Rs 43,370 per kg in 69 lots.

Market analysts said speculators trimmed positions in tandem with a weak global trend as the outlook for an improving US economy outweighed tension in Ukraine, influencing silver prices at futures trade here.

Meanwhile, silver fell by 0.40 per cent to USD 19.48 an ounce in Singapore today, the lowest since June 17.