Silver down 1.28% on weak global trend

Amid a weak trend in overseas markets, silver prices fell by 1.28% to Rs 52,278 per kg in futures trade today.

At the MCX, silver for delivery in July fell by Rs 679, or 1.28%, to Rs 52,278 per kg in business turnover of 5,808 lots.

The September contract declined by Rs 661, or 1.22%, to Rs 53,692 per kg in 269 lots.

Analysts said weak trend in overseas markets as strengthening dollar reduced appeal for the precious metals led to a fall in silver prices at futures trade.

Meanwhile, silver fell by 1.30% to $27.36 an ounce in Singapore, the lowest level since December 30.