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Silver prices fell Rs 160 to Rs 37,430 per kg at the futures trade due to trimming of positions by participants on weak global cues.
At the Multi Commodity Exchange, silver for delivery in December was trading lower by Rs 160 or 0.43 per cent at Rs 37,430 per kg in a business turnover of 440 lots. The metal for delivery in March too lost Rs 114 or 0.30 per cent to Rs 38,260 per kg in a business volume of five lots.
In the international market, silver was trading 0.42 per cent down at $14.19 an ounce in Singapore.
Marketmen attributed the fall in silver prices at the futures trade to trimming of positions by participants in sync with a weak trend in precious metals in the global market. The dollar held firm on news that China has cancelled the upcoming trade talks with the US, with the market also eyeing this week’s US Federal Reserve meeting for guidance on future rate hikes.
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