Precious Metals:
Tracking a weak global trend, silver prices fell by Rs 850 to Rs 40,736 per kg in futures trade
today as speculators trimmed their positions.
At the Multi Commodity Exchange, silver for delivery in July plunged by Rs 850, or 2.04 percent, to Rs 40,736 per kg in business turnover of 16,065 lots.
Similarly, the white metal for delivery in September lost Rs 857, or 2.04 per cent, at Rs 41,221 per kg in 1,704 lots.
Market analysts said speculators offloaded their holdings following a weak global trend mainly pulled down silver prices at futures trade.
Meanwhile, silver dropped 2.8 per cent to USD 19.55 an ounce in Singapore.
Base Metals & Energy:
Amid a weak overseas cues and sluggish spot demand, copper prices slide by 1.86 percent to Rs 400.20 per kg in futures trade today as speculators trimmed their positions.
At the Multi Commodity Exchange, copper for delivery in June fell by Rs 7.60, or 1.87 per cent,
to Rs 400.20 per kg in business turnover of 21986 lots.
Similarly, the metal for delivery in August shed Rs 6.95, or 1.68 per cent, to Rs 405.70 per kg in 2,988 lots.
Analysts attributed the fall in copper futures to weak global cues as inventories climbed to a 10-year high and operations resumed at the Grasberg mine in Indonesia.
Meanwhile,copper dropped 1.3 per cent to USD 6,728.50 a tonne on the London Metal Exchange.