Silver prices fell 1.49 per cent to Rs 48,666 per kg at the futures trade today as speculators indulged in trimming positions, taking weak cues from the global markets.
On the Multi Commodity Exchange, silver for delivery in December traded lower by Rs 735 or 1.49 per cent to Rs 48,666 per kg in a business turnover of 470 lots. Similarly, the white metal for delivery in March declined by Rs 617 or 1.22 per cent to Rs 49,883 per kg in a business volume of four lots.
In the international market, silver dropped for the third day in Singapore. The white metal was trading 1.2 per cent lower at $21.47 an ounce.
Market analysts said a weak trend in precious metals in the global market on speculation that the US Federal Reserve will cut its monthly asset purchases at the end of a two-day meeting today, led the fall in silver prices at the futures trade here.
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