Silver futures price down 0.31% on global cues, weak spot demand
PTI: New Delhi, Mar 01 2013, 14:13 IST
Silver prices fell by 0.31 per cent to Rs 53,102 per kg in futures trade today, taking weak cues from the global market amid subdued domestic demand.
At the Multi Commodity Exchange, silver for delivery in March fell by Rs 165, or 0.31 per cent, to Rs 53,102 per kg in business turnover of 1,551 lots.
Similarly, the white metal for delivery in May declined by Rs 146, or 0.27 per cent, to Rs 57,421 per kg in business volume of 6,016 lots.
Market analysts said besides weak demand at domestic spot markets, a subdued trend in the global markets as signs of economic optimism curbed demand for the precious metals as a haven, attributed fall in silver prices at futures trade here.
In the international market, silver fell 1.9 per cent to USD 29.43 an ounce in Singapore.
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