Silver futures down over 1% on lower global trend
New Delhi: Tracking a weak global trend, silver prices moved down by 1.08 percent to Rs 44,590 per kg in futures trade on Thursday as speculators partially offloaded positions.
At the Multi Commodity Exchange, silver for delivery in March 2014 moved down by Rs 487, or 1.08 percent to Rs 44,590 per kg in business turnover of 537 lots.
Similarly, the white metal for delivery in current month declined by Rs 343, or 0.83 percent, to Rs 43,468 per kg in 7 lots.
Market analysts said speculators trimmed positions in tandem with a weak global trend, mainly weighed on the silver prices at futures trade.
Meanwhile, silver fell by 0.40 percent to USD 19.61 an ounce in Singapore. It dropped to USD 18.90 yesterday, the lowest since July 8.