Comments
Silver prices dropped by Rs 214 per kg to Rs 37,021 per kg at the futures trade as speculators trimmed their holdings amid a weak trend in global market.
At the Multi Commodity Exchange, silver for delivery in far-month December was trading lower by Rs 214 or 0.57 per cent at Rs 37,021 per kg in a business turnover of 13 lots.
Similarly, the metal for delivery in September declined by Rs 200 or 0.55 per cent to Rs 36,390 per kg in a business of 605 lots.
In the international market, silver slumped 0.32 per cent to $15.62 an ounce in Singapore.
Analysts attributed the fall in silver in futures trade to a weak trajectory in global markets as the dollar strengthened against a basket of major currencies and global stocks gained on upbeat data, eroding the demand for a safe haven.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.