Silver prices fell 1.44 per cent to Rs 52,938 per kg in early trade at the futures market today after speculators reduced their exposure, taking cues from a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in March fell Rs 776 or 1.44 per cent to Rs 52,938 per kg with an open interest for 6,197 lots. In a similar fashion, the metal for delivery in May lost Rs 779 or 1.42 per cent to Rs 54,110 per kg with a trading volume of 265 lots.
In the Asian region, silver fell 3.19 per cent to $28.79 an ounce in early trade today.
Market analysts said Fitch warning of a possible downgrade of France’s sovereign debt kept investors on the edge about the situation in Europe, reducing the appeal for precious metals.
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.