Silver prices fell by Rs 160 to Rs 58,836 per kg in futures trade

Silver prices fell by Rs 160 to Rs 58,836 per kg in futures trade today, due to reduced offtake by traders on the back of a weakening global trend.

At the Multi Commodity Exchange, silver for delivery in May fell by Rs 160, or 0.27%, to Rs 58,836 per kg, with a business turnover of 61 lots.

Likewise, the metal for delivery in March contract shed Rs 148, or 0.26%, to Rs 57,639 per kg, with a trade volume of 3,516 lots.

Market analysts said reduced offtake by traders due to subdued demand in the spot market amid weakening trend in global markets, mainly led to the fall in silver futures prices.

Meanwhile, silver dropped by 0.2% to $32.72 an ounce in Singapore.

Tags: price of silver, Silver, silver analysis, silver news, silver price, silver prices, silver spot, spot silver

Posted by Silver Guru on Dec 1 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