Tracking a weak global trend, silver futures prices fell 1.59 per cent to Rs 49,744 per kg today as speculators trimmed their positions.
On the Multi Commodity Exchange, silver prices for delivery in far-month March plunged by Rs 802 or 1.59 per cent to Rs 49,744 per kg in a business turnover of 29 lots.
Similarly, the white metal prices for delivery in December lost Rs 620 or 1.46 per cent to trade at Rs 48,586 per kg in 2,050 lots.
Market analysts said a weak trend in the precious metals overseas, as investors weighed the outlook for Fed stimulus after a Federal Reserve policy maker said a small taper may occur next month, mainly attributed to the fall in silver prices at the futures trade.
Globally, silver for spot delivery sank 1.4 per cent to $21.48 an ounce in Singapore.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.