Silver futures down 0.8% on global cues

Traders trim positions over concerns of a slowdown in physical purchases abroad

Silver prices fell by 0.77 per cent to Rs 45,575 per kg in futures trade today as speculators trimmed their positions, tracking a weak trend overseas.

At the Multi Commodity Exchange, silver for delivery in September traded Rs 355, or 0.77 per cent, lower at Rs 45,575 per kg in business turnover of 24 lots.

July silver declined by Rs 343, or 0.76 per cent, to Rs 44,825 per kg in business volume of 1,081 lots.

In the international market, silver traded 1.1 per cent lower at $23.75 an ounce in Singapore today.

Market analysts said a subdued trend in precious metals in the global markets on speculation that physical purchases may be slowing after recent rise, led to fall in silver prices at futures trade here.