Silver prices edged lower by 0.34 per cent to Rs 52,712 per kg in futures trade today as speculators reduced positions tracking a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in September traded Rs 178, or 0.34 per cent, lower at Rs 52,712 per kg, with a business turnover of 2,285 lots.
Likewise, the white metal for delivery in December lost Rs 157, or 0.29 per cent, to Rs 54,436 per kg, with a business turnover of 136 lots.
Market analysts attributed the fall in silver futures to a weakening trend in global markets after Federal Reserve provided no specific plans for boosting growth in the US, curbed demand for the precious metals.
Meanwhile, silver traded 0.50 per cent lower at USD 27.17 in Singapore.
Source:http://economictimes.indiatimes.com/markets/commodities/silver-futures-decline-on-global-trend/articleshow/15029216.cms
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