Silver futures dip below Rs 37,000/kg mark on global cues

New Delhi, Dec 8 (PTI) Taking weak cues from overseasmarkets, silver prices slipped below Rs 37,000 per kg mark infutures trade today as participan...

New Delhi, Dec 8 (PTI) Taking weak cues from overseasmarkets, silver prices slipped below Rs 37,000 per kg mark infutures trade today as participants cut down bets.

At the Multi Commodity Exchange, silver for delivery inMarch fell by Rs 62, or 0.17 per cent, to Rs 36,974 per kg ina business turnover of 1,661 lots.

Similarly, the white metal for delivery in May edged downby Rs 66, or 0.18 per cent, to Rs 37,480 per kg in 17 lots.

Analysts said offloading of positions by participants inline with a weak global trend as investors anticipate higherUS interest rates, and progress on tax reform buoys thedollar, diminishing safe-haven appeal of the precious metals,mainly led to the fall in silver prices at futures trade.

Globally, silver shed 1.41 per cent to USD 15.70 an ouncein New York yesterday. PTI SUN KPSANU.

This is unedited, unformatted feed from the Press Trust of India wire.

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