Silver futures traded 0.80% lower at Rs 53,803 per kg today

Silver futures traded 0.80% lower at Rs 53,803 per kg today after speculators offloaded their holdings, taking weak cues from global markets.

At the Multi Commodity Exchange, May silver fell by Rs 435, or 0.80%, to Rs 53,803 per kg, with a business turnover of 150 lots.

The March delivery lost Rs 416, or 0.78%, to Rs 52,693 per kg, with a trade volume of 4,680 lots.

Analysts said offloading of positions by speculators in tandem with a weak trend in Asia after recent gains weighed on the silver futures prices here.

Meanwhile, silver fell 1.2% to $29.31 an ounce in Singapore in early trade today. – PTI

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Posted by Silver Guru on Jan 4 2012. 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