Silver futures fall 0.30% as speculators trim position

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SummarySilver futures prices today moved down by 0.30 per cent to Rs 57,993 per kg.

Silver futures prices today moved down by 0.30 per cent to Rs 57,993 per kg largely after participants trimmed their positions even as metal rose overseas.

At the Multi Commodity Exchange, silver for delivery in March next year fell by Rs 172, or 0.30 per cent, to Rs 57,993 per kg, with a business turnover of 2,151 lots. Similarly, the metal for delivery in May lost Rs 175, or 0.29 per cent, to Rs 59,281 per kg, with a business turnover of 592 lots.

Marketmen attributed the fall in silver futures to off-loading of positions by speculators but a firming trend overseas limited the fall.

Meanwhile, silver rose 0.50 per cent USD 30.14 an ounce in Singapore.

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