Silver falls 0.41% on weak global cues

Jul 16 2014, 13:17 IST
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SummarySilver prices fell by 0.41 per cent to Rs 44,672 per kg in futures trade today largely in tune with a weak trend overseas amidst profit-booking by speculators.

Silver prices fell by 0.41 per cent to Rs 44,672 per kg in futures trade today largely in tune with a weak trend overseas amidst profit-booking by speculators.

At the Multi Commodity Exchange, silver for delivery in September traded lower by Rs 188, or 0.41 per cent, to Rs 44,672 per kg in a business turnover of 781 lots.

Similarly, the white metal for delivery in December declined by Rs 182, or 0.40 per cent, to Rs 45,541 per kg in a business volume of 28 lots.

In the international market, silver traded 0.89 per cent lower at USD 20.72 an ounce in New York in yesterday's trade.

Analysts said apart from profit-booking by participants, a weak trend in global markets as the outlook for higher borrowing costs in the US strengthened the dollar and damped demand for an alternative investment, led to the fall in silver prices at futures trade here.

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