Silver futures down on weak global cues
Silver futures prices fell marginally by Rs 50 to Rs 57,107 per kg today after traders preferred to reduce their positions amid a weak trend in global markets.
On the Multi Commodity market, December silver fell by Rs 50, or 0.09%, to Rs 57,107 per kg, with an open interest of 1,602 lots.
The March contract lost Rs 51, or 0.09%, to Rs 58,800 per kg, with a business volume of 69 lots.
Market analysts attributed a moderate fall in silver prices at futures trade to a subdued trend in overseas markets as the dollar's gain against the euro on renewed worries in the euro-zone on debt crisis, curbed demand for precious metals as an alternative investment.
Meanwhile, silver in New York fell 2.52% to $33.70 an ounce in yesterday's session.