Silver prices declined 0.33 per cent to Rs 45,031 per kg at the futures trade today as speculators booked profits amid a weak trend in the global market.
On the Multi Commodity Exchange, silver prices for delivery in far-month December traded lower by Rs 148 or 0.33 per cent to Rs 45,031 per kg in a business turnover of four lots.
Similarly, the white metal prices for delivery in September declined by Rs 140 or 0.31 per cent to Rs 44,340 per kg in a business volume of four lots.
In the international market, silver prices traded 0.2 per cent lower at $20.57 an ounce in Singapore.
Market analysts said besides profit-booking by participants, a weak trend in global market as positive US economic data strengthened the case for higher borrowing costs in the world’s largest economy and reduced the appeal for an alternative investment, put pressure on gold prices at the futures trade here.
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.