Silver falls Rs 271 on weak global cues

Silver prices tumbled Rs 271 to Rs 40,255 per kg in futures trade today as participants reduced exposure, tracking weakness in global markets.
At the Multi Commodity Exchange, silver for delivery in December lost Rs 271 or 0.67 per cent to Rs 40,255 per kg, in a business turnover of 480 lots.
Similarly, the white metal for delivery in far-month March was trading lower by Rs 270, or 0.66 per cent, to Rs 40,831 per kg in a business volume of 24 lots.
In the international market, silver slumped 0.37 per cent to USD 16.28 an ounce in Singapore today.

Traders said, the fall in silver prices at futures trade was largely in-line with a weak trend overseas as prospects for economy-boosting policies by President-elect Donald Trump help the Federal Reserve gear up for a rate rise, hoisting the dollar to the highest level in more than a decade, eroding demand for the precious metals as a safe-haven investment.