Silver futures down 0.90% on weak global cues

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New Delhi | Updated: November 28, 2014 11:57:56 AM

Silver prices fell by 0.90 per cent to Rs 35,563 per kg in futures trade.

Silver prices fell by 0.90 per cent to Rs 35,563 per kg in futures trade. (Reuters)Silver prices fell by 0.90 per cent to Rs 35,563 per kg in futures trade. (Reuters)

Silver prices fell by 0.90 per cent to Rs 35,563 per kg in futures trade as speculators engaged in reducing their positions largely in tune with a weakening trend overseas.

At the Multi Commodity Exchange, silver for delivery in December contracts traded lower by Rs 324, or 0.90 per cent, to Rs 35,563 per kg in business turnover of 947 lots.

Similarly, the white metal for delivery in far-month March next year contracts declined by Rs 270, or 0.74 per cent, to Rs 36,445 per kg in business volume of 435 lots.

In the international market, silver fell 1.20 per cent to USD 16.05 an ounce in Singapore, the lowest since November 20.

Market analysts said a subdued trend in precious metals in the global markets as crude oil at the lowest level in four years increased prospects for a cooling of consumer prices, reducing demand for an inflation hedge, put pressure on silver futures trade here.

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