Silver falls Rs 218, hurt by weak global cues

Taking weak cues from overseas markets, silver prices tumbled Rs 218 to Rs 46,392 per kg in futures trade today, as participants reduced exposure.
At the Multi Commodity Exchange, silver for delivery in March next year lost Rs 218, or 0.47 per cent, to Rs 46,392 per kg, in a business turnover of 265 lots.
Similarly, the white metal for delivery in December was trading lower by Rs 173, or 0.38 per cent, to Rs 45,553 per kg, in a business volume of 265 lots.
In the international market, silver slumped 0.39 per cent to USD 19.07 an ounce in Singapore today.

Traders said that the fall in silver prices at futures trade was largely in line with a weak trend in precious metals in global markets on speculation that Deutsche Bank is working to mend its finances, eroding haven demand.