Silver for delivery in December fell by Rs 960 on Monday

Silver futures prices fell by 1.67 per cent to Rs 56,413 per kg today, as speculators offloaded positions due to a weakening trend in Asia.

At the Multi Commodity Exchange, silver for delivery in December fell by Rs 960, or 1.67 per cent, to Rs 56,413 per kg, with a business turnover of 86 lots.

Similarly, the metal for delivery in March lost Rs 960, or 1.63 per cent, to Rs 56,900 per kg, with a trade volume of 82 lots.

Analysts said speculators reduced their positions on the back of a weak trend in Asian region after firming dollar reduced appeal for precious metals as an alternative, which led to the decline in silver futures prices.

Meanwhile, silver fell by 1.30 per cent to USD 34.87 an ounce in Singapore. – PTI

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Posted by Silver Guru on Oct 31 2011. Filed under Silver prices. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry