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Silver futures prices fell by 1.15 per cent to Rs 55,205 per kg today

Silver futures prices fell by 1.15 per cent to Rs 55,205 per kg today, after traders reduced their positions amid a weak trend in global markets.

On the Multi Commodity market, silver for December contract fell sharply by Rs 641, or 1.15 per cent, to Rs 55,205 per kg, with a business turnover of 2,506 lots.

The white metal for March contract lost Rs 632, or 1.10 per cent, to Rs 56,906 per kg, with a business volume of 259 lots.

Market analysts attributed the steep fall in silver futures prices to a subdued trend in overseas markets, as the dollar’s strength against the euro on worries in the euro-zone on debt crisis, tempered demand for precious metals as alternative investments.

Meanwhile, silver in the Asian region fell by 0.09 per cent to USD 31.73 an ounce in the morning trade today. – PTI

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Posted by on Nov 24 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

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