Silver futures decline 0.32 pc on global cues

Silver prices fell 0.32 per cent to Rs 40,001 per kg in futures trade Monday as speculators trimmed positions tracking a weak trend overseas.

At the Multi Commodity Exchange, silver for delivery in February fell by Rs 128, or 0.32 per cent, to Rs 40,001 per kg in a business turnover of 1,049 lots.

Similarly, the white metal for delivery in March contracts was trading lower by Rs 122, or 0.30 per cent, to Rs 39,983 per kg in 661 lots.

Analysts said offloading of positions by participants in line with a subdued trend overseas led to the fall in silver prices at futures trade.

Globally, silver fell 0.44 per cent to USD 15.84 an ounce in New York.