Silver down 0.3% on global cues

Market analysts said trimming of positions by speculators to book profits and a weak trend overseas attributed fall in silver futures

Silver prices fell 0.31% to trade at Rs 46,745 per kg in futures trade today as speculators reduced positions amid a weakening trend in the global markets.

Besides, a weak trend in the precious metals at the domestic bullion market also weighed on silver futures.

At the Multi Commodity Exchange, Silver for delivery in December lost Rs 146, or 0.31%, to Rs 46,745 per kg in business turnover of 457 lots.

In a similar fashion, the white metal for delivery in far-month march, last year contracts traded Rs 95, or 0.20% lower, at Rs 48,049 per kg in ten lots.

In the spot markets at Delhi, silver prices dropped by Rs 880 to Rs 46,890 per kg on Saturday.

Market analysts said trimming of positions by speculators to book profits and a weak trend overseas as US Senate leaders struggled to draft an accord to increase the debt limit and avert a default before a deadline this week and a weak trend at the domestic market, mainly attributed fall in silver futures here.

Meanwhile, silver fell by 1.1% to 21.10 dollar an ounce in Singapore today.