Silver futures down on global cues, fall in demand

<p>Silver prices fell by 0.76 to Rs 54,155 per kg in futures trade today as speculators trimmed their positions amid a weak trend in global markets.

Spot demand for the metal was also subdued today as marriage season ended.

At the MCX, silver for delivery in July was trading Rs 413, or 0.76%, lower at Rs 54,155 per kg, with a turnover of 6,561 lots.

The September contract dropped by Rs 415, or 0.74%, to Rs 55,594 per kg, with a business turnover of 274 lots.

Silver on COMEX declined as there was a sell-off across commodities on rising Eurozone concerns triggered off demand for the US dollar. Silver also shed gains today, tracking base metals, which declined on poorer-than-expected economic growth data from China.

Silver tracks base metals for cues.

Meanwhile, silver fell by 0.8% to $28.82 an ounce in Singapore today.