Silver prices down 0.53 pct in futures trade

Written by PTI | New Delhi | Updated: Apr 30 2014, 20:11pm hrs
Tracking a weak trend overseas, silver prices fell by 0.53 per cent to Rs 41,739 per kg in futures trade today as speculators engaged in offloading positions.

At the Multi Commodity Exchange, silver for delivery in May lost Rs 233, or 0.53 per cent, to Rs 41,739 per kg, with a turnover of 2,417 lots.

Similarly, silver for delivery in July dropped by Rs 187, or 0.44 per cent, to Rs 42,506 per kg, in a business turnover of 1,467 lots.

Analysts said a weak trend in global markets on speculation that the Federal Reserve will further reduce US monetary stimulus at a two-day policy meeting that concludes today, weighed on silver futures here.

Meanwhile, silver dropped 0.77 per cent to USD 19.29 an ounce in Singapore.