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Silver prices were down by Rs 38 at Rs 39,111 per kg at the futures trade today as speculators trimmed their positions, tracking a weak trend overseas.
Silver for delivery in December was trading lower by Rs 38 or 0.10 per cent at Rs 39,111 per kg in a business turnover of 124 lots at the Multi Commodity Exchange (MCX). In the international market, silver fell 0.56 per cent to $16.74 an ounce in Singapore today.
Market analysts said trimming of positions by participants to book profits amid muted global cues, as investors remained cautious ahead of the naming of the next US Federal Reserve chair and a two-day Federal Open Market Committee (FOMC) meeting this week, mainly led to a fall in silver prices at the futures trade here.
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