Silver down 0.33% on global cues

silver futures prices today fell by Rs 189, or 0.33%, to Rs 57,370 per kg as speculators preferred to reduce positions amid a weak trend overseas.

At the Multi Commodity Exchange, silver for delivery in September was trading Rs 189, or 0.33%, lower at Rs 57,370 per kg, with a turnover of 2,518 lots.

December silver dropped by Rs 192, or 0.32%, to Rs 59,368 per kg, with a business turnover of 1,158 lots.

Marketmen said besides profit-booking by speculators, a weak trend overseas on speculation that the US Federal Reserve will refrain from additional stimulus amid signs the world's largest economy is improving, kept pressure on the precious metal prices.

Meanwhile, silver fell by 0.5% to $30.58 an ounce in Singapore today.