Silver futures down 0.63% on overseas trend

Dec 11 2012, 11:27 IST
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SummaryAmid weak trend overseas and profit-booking, silver futures prices fell by 0.63 per cent today as speculators trimmed their exposures.

Amid weak trend overseas and profit-booking, silver futures prices fell by 0.63 per cent today as speculators trimmed their exposures.

At the Multi Commodity Exchange, silver for delivery in March fell by Rs 398, or0.63 per cent, to Rs 62,550 per kg in a business turnover of 3,157 lots.

Similarly, the metal for delivery in May traded lower by Rs 360, or 0.56 per cent, to Rs 63,989 per kg with a volume of business of 105 lots.

Analysts attributed fall in silver futures prices to a weak trend in global markets as some investors sold the metal after prices climbed to a one-week high amid speculation the US Federal Reserve will expand monetary stimulus to boost the economy.

Meanwhile, in Singapore silver prices fell from one-week high by dropping 0.80 per cent, to USD 32.99 an ounce.

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