Gold & Silver

Profit-taking pulls silver futures down to Rs 40,390 per kg

PTI New Delhi | Updated on May 14, 2018 Published on May 14, 2018

Silver prices slumped Rs 151 to Rs 40,390 per kg at the futures trade as speculators cut down their bets at prevailing levels, ignoring a firm trend overseas.

Silver for delivery in far-month July was trading sharply lower by Rs 151 or 0.37 per cent at Rs 40,390 per kg in a business turnover of 431 lots at the Multi Commodity Exchange.

In the international market, silver rose 0.18 per cent to $16.67 an ounce in Singapore on the back of a subdued dollar as investors considered the prospects of slower interest rate hikes in the United States.

Analysts attributed the fall in silver futures to offloading of positions by participants.

Published on May 14, 2018
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