NEW DELHI, Apr 21: Tracking a weak global trend, silver prices moved down by 1.26 per cent to Rs 41,843 per kg in futures trade today as speculators offloaded positions.
At the Multi Commodity Exchange, silver for delivery in May moved down by Rs 534, or 1.26 per cent, to Rs 41,843 per kg in a business turnover of 1,817 lots.
Similarly, the white metal for delivery in July declined sharply by Rs 509, or 1.18 per cent, to Rs 42,615 per kg in 207 lots.
Market analysts said speculators trimmed positions in tandem with a weak global trend as investors assessed prospects for further cuts to the US Federal Reserve’s stimulus programme amid signs of recovery in the world’s largest economy that mainly weighed on the silver prices at futures trade.
Meanwhile, silver fell by 1.90 per cent to USD 19.25 an ounce in Singapore, the lowest level since April 5. (PTI)
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