Comments
Taking weak cues from global market, silver prices tumbled by Rs 116 to Rs 39,761 per kg at the futures trade today as participants engaged in cutting down their bets. Moreover, profit-booking also put pressure on silver prices.
At the Multi Commodity Exchange, silver for delivery in December was trading lower by Rs 116 or 0.29 per cent at Rs 39,761 per kg in a business turnover of 358 lots. The white metal for delivery in March next year too lost Rs 104 or 0.26 per cent to Rs 40,344 per kg in a business volume of 2 lots.
In the international market, silver was trading 0.22 per cent down at $16.99 an ounce in Singapore.
Marketmen attributed the fall in silver prices at futures trade to a weak trend in precious metals overseas as dollar's strength eroded the demand for precious metals as a haven.
Comments
COMMENT NOW
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.