Silver down 0.3% on weak global cues

Market analysts said a subdued trend in precious metals in the global markets put pressure on silver futures trade

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Silver prices fell by 0.36% to Rs 45,742 per kg in futures trade today as speculators engaged in reducing their positions largely in tune with a weakening trend overseas .

At the Multi Commodity Exchange, silver for delivery in far-month July traded lower by Rs 163, or 0.36%, to Rs 45,742 per kg in business turnover of 34 lots.

Similarly, the white metal for delivery in May declined by Rs 152, or 0.34%, to Rs 44,840 per kg in business volume of 765 lots.

In the international market, silver fell 1.65% to $20.27 an ounce in New York yesterday.

Market analysts said a subdued trend in precious metals in the global markets after the US Federal Reserve indicated that it would raise interest rates next year, curbing demand for the safe-haven, put pressure on silver futures trade here.