Silver futures fall on weak global trend

Written by PTI | New Delhi | Updated: Jun 25 2014, 18:18pm hrs
Silver prices fell for the third straight session and lost 0.67 per cent to Rs 44,703 per kg in futures trading today on continued offloading of positions by speculators amid a weak global trend.

At the Multi Commodity Exchange, silver for delivery in September fell further by Rs 300, or 0.67 per cent, to Rs 44,703 per kg in a business turnover of 341 lots.

In a similar fashion, the white metal for delivery in July declined by Rs 294, or 0.66 per cent, to Rs 44,200 per kg in 2,399 lots.

Market analysts said speculators trimmed positions in tandem with a weak global trend that pulled down silver prices in futures trade.

Meanwhile, silver dropped one per cent to USD 20.72 an ounce after climbing to USD 21.16 yesterday, the highest since March 18.