Silver futures down 0.5% on weak global cues

Silver futures for March fell by Rs 298, or 0.5%, to Rs 59,567 per kg in 2,614 lots.

At the Multi Commodity Exchange, the May contract traded lower by Rs 309, or 0.5%, to Rs 60,912 per kg in 93 lots.

Speculators reducing their positions affected the tarade.

Weak trend in the global markets after the International Monetary Fund said global growth will accelerate this year, curbing demand for the precious metals as an alternative investment.

In Singapore, silver shed 0.5% to $32.09 an ounce.