Silver futures down 0.53% on global cues

Concerns that retail sales from Europe could add to signs of economic weakness influences prices

Silver prices moved down by 0.53% to Rs 62,600 per kg in futures trade today after speculators trimmed positions amid negative cues from the global markets.

At the Multi Commodity Exchange, silver for delivery in December moved down by Rs 334, or 0.53%, to Rs 62,600 per kg, with a business turnover of 2,419 lots.

March silver declined by Rs 329, or 0.51%, to Rs 64,308 per kg in 90 lots.

Marketmen said speculators offloaded positions in line with a weak global trend ahead of data that may add to signs of economic weakness in Europe.

Silver traded a shade lower at $34.29 an ounce in Singapore.