Silver futures fall 0.3% on weak global cues
Silver futures weakened by Rs 162, or 0.30%, to trade at Rs 53,701 per kg today as speculators offloaded positions taking cues from weak Asian market.
At the Multi Commodity Exchange, May silver declined by Rs 162, or 0.30%, to Rs 53,701 per kg, with business turnover of 91 lots.
The March delivery moved down by Rs 111, or 0.21%, to Rs 52,629 per kg, with trade volume of 3,427 lots.
Traders said besides speculators off-loading their positions, weak trend in Asian region as recent gains spurred selling in precious metal, pulling down silver futures prices.
Meanwhile, silver lost 0.7% to $29.14 an ounce in Singapore in early trade today.