Silver futures down more than 1% on weak global cues

Silver futures for July traded lower by Rs 577, or 1.10%, to Rs 51,984 per kg in 190 lots.

At the Multi Commodity Exchange (MCX), the May contract declined by Rs 553, or 1.07%, to Rs 50,920 per kg in 2,844 lots.

Prices fell as speculators trimmed their positions.

In Singapore, silver traded 0.9% lower at $27.02 an ounce, lowest level since August 2.

Subdued trend in precious metals in the global markets as investors cut holdings of the metal after the dollar gained and data that showed an improving US economy, led to fall in silver prices at futures trade here.