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This is an archive article published on October 1, 2012

Silver futures down 0.52 pct,tracking global trend

Market attributed fall in silver futures to weakening trend overseas on signs of global slowdown.

Silver futures prices on Monday moved down by 0.52 per cent to Rs 62,454 per kg largely in tune with a weakening trend overseas.

At the Multi Commodity Exchange,silver for delivery in December fell by Rs 326,or 0.52 per cent,to Rs 62,780 per kg,with a business turnover of 3,577 lots.

Similarly,the metal for delivery in March lost Rs 314,or 0.49 per cent,to Rs 64,160 per kg,with a business turnover of 146 lots.

Marketmen attributed the fall in silver futures to a weakening trend overseas on signs of a global slowdown,mainly led to a fall in silver futures prices.

Meanwhile,silver dropped 0.9 per cent to $34.21 an ounce in Singapore.

 

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