Silver futures down 0.6% on global cues

White metal for delivery in December traded lower by 0.63%

Silver prices fell by 0.64% to Rs 46,220 per kg in futures trade today as speculators trimmed their positions, taking weak cues from the global markets.

At the Multi Commodity Exchange, silver for delivery in in March 2014 declined by Rs 297, or 0.64%, to Rs 46,220 per kg in business volume of 64 lots.

On the similar lines, the white metal for delivery in December traded lower by Rs 282, or 0.63%, to Rs 44,717 per kg in business turnover of 775 lots.

In the international market, silver traded 2.41% lower at $19.85 an ounce in New York in yesterday's trade.

Analysts said a subdued trend in precious metals in the global markets after the US Federal Reserve signaled that policy makers may reduce monthly bond purchases in the coming months and investment holdings contracted, led to fall in silver prices at futures trade here.