Silver futures decline 0.38% on weak global trend

Silver prices were down by 0.38 per cent to Rs 42,758 per kg in futures trade today as participants trimmed positions, tracking a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in far-month March next year declined by Rs 164, or 0.38 per cent to Rs 42,758 per kg in business turnover of 60 lots.
Likewise, the metal for delivery in December contracts traded lower by Rs 156, or 0.37 per cent to Rs 41,840 per kg in 867 lots.
Analysts said offloading of positions by traders, tracking a weak trend overseas, mainly kept pressure on silver prices at futures trade.

Meanwhile, silver fell 0.37 per cent to USD 17.43 an ounce in Singapore.