Silver dips on weak global cues

Silver futures prices dipped by Rs 561 to Rs 41,359 per kg today on heavy off-loading by speculators in line with a weak global trend.

At the Multi Commodity Exchange, silver for March delivery dipped by Rs 561, or 1.34 per cent, to Rs 41,359 per kg, with a trade volume of just one lot.

Similarly, the metal for delivery in May dropped by Rs 439, or 1.33 per cent, to Rs 41,680 per kg, with a business turnover of three lots.

Meanwhile, silver declined 1.9 per cent to $26.40 an ounce in Asia.