Silver prices moved down by 0.49 per cent to Rs 41,251 per kg at the futures trade as speculators reduced their holdings amid weak global cues.
At the Multi Commodity Exchange, silver for delivery in far-month August fell Rs 205 or 0.49 per cent to Rs 41,251 per kg in a business turnover of 12 lots. Likewise, the white metal for delivery in July contract was trading lower by Rs 192 or 0.47 per cent at Rs 40,690 per kg in 715 lots.
Globally, silver fell 0.27 per cent to $16.59 an ounce in Singapore.
Market analysts said cutting down of positions by traders in tandem with a weak trend in precious metals overseas mainly weighed on silver prices at the futures trade.
Published on May 25, 2018
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