Silver futures prices down 1.72 pct on weak global cues

Written by PTI | New Delhi | Updated: Oct 31 2013, 17:06pm hrs
Silver priceIn the international market, Silver tumbled 1.9 per cent to USD 22.32 an ounce in Singapore. (Reuters)
Silver prices fell sharply by 1.72 per cent to Rs 49,170 per kg in futures trade today as speculators indulged in trimming positions largely in tune with a weakening trend in the global markets.

At the Multi Commodity Exchange, silver for delivery in December traded lower by Rs 858, or 1.72 per cent, to Rs 49,170 per kg in business turnover of 1,270 lots.

The white metal for delivery in far-month February declined by Rs 855, or 1.66 per cent, to Rs 50,650 per kg in a business volume of 25 lots.

In the international market, Silver tumbled 1.9 per cent to USD 22.32 an ounce in Singapore.

Market analysts said a weak trend in the global markets on speculation that the US Federal Reserve will begin scaling back monetary stimulus as the economy improves led to fall in silver prices at futures trade here.