Analysts said muted demand, weak trend in precious metals in global markets and trimming of positions by speculators weighed on silver futures here.
Silver futures traded lower by Rs 44 at Rs 44,075 per kg on October 1 as participants cut down their bets, taking weak cues from overseas markets.
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On the Multi Commodity Exchange, silver contracts for December delivery dropped by Rs 44, or 0.1 percent, to Rs 44,075 per kg in a business turnover of 3,638 lots.
Similarly, the white metal contracts for March next year traded lower by Rs 58, or 0.13 percent, at Rs 44,926 per kg in a business volume of 89 lots.
In the international market, silver was trading lower by 0.16 per cent to USD 16.97 an ounce in New York.
Analysts said muted demand, weak trend in precious metals in global markets and trimming of positions by speculators weighed on silver futures here.
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Published on
Oct 1 2019 3:32AM, by
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