Silver futures slip by Rs 174 on low demand

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Silver prices fell by Rs 174 to Rs 45,870 per kg in futures trade on October 10 as investors reduced their positions even as the metal gained overseas.

Silver contracts for December delivery traded lower by Rs 174, or 0.38 percent, to Rs 45,870 per kg in a business turnover of 3,033 lots on the Multi Commodity Exchange (MCX).

The white metal for delivery in March next year fell by Rs 133, or 0.28 percent, to Rs 46,860 per kg in a business turnover of 18 lots.

In the international market, silver traded marginally higher by 0.06 percent at $17.82 an ounce on COMEX.

Marketmen said trimming of positions by speculators at prevailing levels mainly exerted pressure on silver futures. Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.