Silver down 0.1% in futures trade, tracking global cues

Silver futures today fell 0.17% to Rs 41,957 per kg as participants trimmed positions, largely in tandem with a weakening trend overseas.

At the Multi Commodity Exchange, the May contract of silver traded lower by Rs 70, or 0.17%, to Rs 41,957 per kg in a business turnover of 84 lots.

The far-month July contract fell by Rs 71, or 0.17%, to Rs 42,668 per kg in business volume of 77 lots.

In Singapore, silver tumbled as much as 0.50% to $19.34 an ounce.

Analysts said weakening trend overseas as the improving US economy, hurting the precious metals' appeal as a haven and shrinking holdings in exchange-traded products, mainly put pressure on the silver prices at futures trade here.