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This is an archive article published on September 23, 2013

Silver futures slide 1.59% on weak global trend

Globally,silver for spot delivery sank 1.4 per cent to USD 21.48 an ounce in Singapore.

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Tracking a weak global trend,silver futures prices today fell 1.59 per cent,to Rs 49,744 per kg,as speculators trimmed positions.

At the Multi Commodity Exchange,silver prices for delivery in far-month March plunged by Rs 802,or 1.59 per cent,to Rs 49,744 per kg in business turnover of 29 lots.

Similarly,the white metal prices for delivery in December lost Rs 620,or 1.46 per cent,at Rs 48,586 per kg,in 2,050 lots.

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Market analysts said a weak trend in the precious metals overseas as investors weighed the outlook for stimulus in the US after a Federal Reserve policy maker said a small taper may occur next month,mainly attributed fall in silver prices at futures trade.

Globally,silver for spot delivery sank 1.4 per cent to USD 21.48 an ounce in Singapore.

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