Silver down by 0.2% on weak global cues

Speculators trimmed their commitments taking weak cues from overseas markets

Taking weak cues from overseas markets, silver prices fell by Rs 83 to Rs 36,310 per kg in futures trade today as speculators trimmed their commitments.

At the Multi Commodity Exchange, silver for delivery in far-month July was trading lower by Rs 83, or 0.23%, at Rs 36,310 per kg, in a business turnover of 55 lots.

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Similarly, the white metal for delivery in May declined by Rs 78, or 0.22%, to Rs 35,844 per kg, in a business volume of 1,257 lots.

In the international market, silver fell 0.10% to $15.04 an ounce in Singapore today.

Traders said the fall in silver prices was largely in line with a weak trend in precious metals at global market on renewed hopes of a rates hike by the Federal Reserve following better-than-expected US jobs data.