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This is an archive article published on October 14, 2013

Silver price futures down 0.31 pct on global cues

In the spot markets at Delhi,silver prices dropped by Rs 880 to Rs 46,890 per kg on Saturday.

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Silver prices fell 0.31 per cent to trade at Rs 46,745 per kg in futures trade today as speculators reduced positions amid a weakening trend in the global markets.

Besides,a weak trend in the precious metals at the domestic bullion market also weighed on silver futures.

At the Multi Commodity Exchange,Silver for delivery in December lost Rs 146,or 0.31 per cent,to Rs 46,745 per kg in business turnover of 457 lots.

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In a similar fashion,the white metal for delivery in far-month march,next year contracts traded Rs 95,or 0.20 per cent lower,at Rs 48,049 per kg in ten lots.

In the spot markets at Delhi,silver prices dropped by Rs 880 to Rs 46,890 per kg on Saturday.

Market analysts said trimming of positions by speculators to book profits and a weak trend overseas as US Senate leaders struggled to draft an accord to increase the debt limit and avert a default before a deadline this week and a weak trend at the domestic market,mainly attributed fall in silver futures here.

Meanwhile,silver fell by 1.1 per cent to 21.10 dollar an ounce in Singapore today.

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