Silver futures down 0.3% on global cues

Silver prices fell by 0.32% to Rs 47,333 per kg in futures trade today as speculators indulged in reducing exposures on weak cues from global markets.

At the Multi Commodity Exchange, silver for delivery in March traded lower by Rs 151, or 0.32%, to Rs 47,333 per kg in business turnover of 720 lots.

Similarly, the white metal for delivery in May declined by Rs 133, or 0.27%, to Rs 48,285 per kg in business volume of 76 lots.

Globally, silver lost one% to trade at $21.60 an ounce in Singapore.

Market analysts said a subdued trend in precious metals overseas on speculation that recent rally is curbing physical demand in Asia and as the US Federal Reserve indicated that it will press on with cuts to stimulus, led to fall in silver prices at futures trade here.