NEW DELHI, Sept 18: Silver prices drifted lower by 0.43 per cent to Rs 40,638 per kg in futures market today, tracking a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in December fell by Rs 176 or 0.43 per cent to Rs 40,638 per kg in business turnover of 1,259 lots.
The white metal for delivery in March next year was trading lower by Rs 144 or 0.35 per cent to Rs 41,239 per kg in 53 lots.
Analysts attributed the fall in silver futures to a weak trend in the precious metals in overseas markets as a firmer dollar reduced demand for the precious metals as a safe heaven investment while prospects of monetary policy tightening in the US ahead of the Federal Reserve’s two-day meeting starting on Tuesday.
Meanwhile, silver was trading lower at USD 17.44 an ounce in Singapore today. (PTI)
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