Silver futures prices down 0.77% on weak global cues

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SummarySilver prices moved down by 0.77 per cent to Rs 62,627 per kg in futures trading today

Silver prices moved down by 0.77 per cent to Rs 62,627 per kg in futures trading today as speculators reduced their positions, tracking a weak trend at spot market on subdued demand amid a weak global cues.

At the Multi Commodity Exchange, silver for delivery in December fell by Rs 483, or 0.77 per cent, to Rs 62,627 per kg in a business turnover of 5,386 lots.

Similarly, the metal for delivery in March traded lower by Rs 503, or 0.77 per cent, to Rs 64,628 per kg with an open interest of 1,914 lots.

Market analysts said speculators reduced their positions, tracking a weak trend at spot market on sluggish demand and a weak global trend mainly kept pressure on silver futures.

Meanwhile, silver shed 0.82 per cent to USD 33.77 an ounce in New York last night

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