Silver falls 0.2%, hurt by global cues

Taking weak cues from overseas markets, silver prices fell by Rs 84 to Rs 34,841 per kg in futures trade today.

In futures trading at the Multi Commodity Exchange, silver for delivery in far-month May next year was trading lower by Rs 84, or 0.24%, at Rs 34,841 per kg in a business turnover of just one lot.

Similarly, the white metal for delivery in March declined by Rs 61, or 0.18%, to Rs 34,445 per kg in a business volume of 166 lots.

In the international market, silver ended flat at $14.14 an ounce in New York yesterday.

Traders said the fall in silver prices was largely in line with a weak trend in precious metals at global markets before next week's meeting of the Federal Reserve which will probably increase borrowing costs for the first time since 2006, damping the allure of the precious metals metals which doesn't pay interest.