Silver futures down at Rs. 38,729 per kg

Mumbai-India (July 3)  Taking negative cues from global market, silver prices drifted lower by 0.14 per cent to Rs. 38,729 per kg at the futures trade as speculators cut down their bets.

At the Multi Commodity Exchange, silver for delivery in far-month September fell Rs. 54 or 0.14 per cent to Rs. 38,729 per kg in a business turnover of 1,162 lots.

Likewise, the white metal for delivery in July shed Rs. 45 or 0.12 per cent to Rs. 38,299 per kg in 673 lots.

Analysts said the slide in silver prices was mostly due to offloading of positions by participants due to a weak trend in global markets.

Meanwhile, silver fell 0.21 per cent to $16.57 an ounce in Singapore.

Source: BusinessLine