Silver falls by Rs 85 on weak global cues

Taking weak cues from overseas markets, silver prices fell by Rs 85 to Rs 42,198 per kg in futures trade today as speculators trimmed their commitments.
At the Multi Commodity Exchange, silver for delivery in May was trading lower by Rs 85, or 0.20 per cent, at Rs 42,198 per kg, in a business turnover of 338 lots.
Similarly, the white metal for delivery in far-month July declined by Rs 79, or 0.19 per cent, to Rs 42,223 per kg, in a business volume of 567 lots.
In the international market, silver fell 0.44 per cent to USD 18.13 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 as the dollar strengthened against major currencies on sold economic data, reduced demand for the precous metals as a safe haven, kept pressure on silver prices at futures trade.