Silver falls by 0.3% on weak global cues

Participants trimmed positions taking weak cues from overseas markets

Taking weak cues from overseas markets, silver prices fell by Rs 114 to Rs 34,518 per kg in futures trade today, as participants trimmed positions.

In futures trading at the Multi Commodity Exchange, silver for delivery in far-month May next year shed Rs 114 or 0.33% to Rs 34,518 per kg in a business turnover of 7 lots.

Similarly, the white metal for delivery in March declined by Rs 100 or 0.29% to Rs 34,115 per kg in a business volume of 297 lots.

In the international market, silver fell 0.35% to $14.05 an ounce in Singapore today.

Marketmen attributed the fall in silver prices at futures trade was largely in line with a weak trend in precious metals in global markets.