Silver futures slip by Rs 51 on low demand

Silver prices fell by Rs 51 to Rs 46,440 per kg in futures trade on Monday as investors reduced their positions even as the metal gained overseas. Silver contracts for December delivery traded lower by Rs 51, or 0.11 percent, to Rs 46,440 per kg in a business turnover of 9,508 lots on the Multi Commodity Exchange (MCX).

The white metal for delivery in March next year fell by Rs 87, or 0.18 percent, to Rs 47,221 per kg in a business turnover of 1,099 lots. In the international market, silver traded marginally higher by 0.58 percent at USD 18.03 an ounce on COMEX.

Marketmen said trimming of positions by speculators at prevailing levels mainly exerted pressure on silver futures.