Silver futures down 0.53 pc on global cues

Silver prices fell by 0.53 per cent to Rs 44,876 per kg in futures trade today as speculators lightened their positions amid a weak trend in the global markets.
At the Multi Commodity Exchange, silver for delivery in March traded lower by Rs 242, or 0.53 per cent, to Rs 44,876 per kg in business turnover of 477 lots.
Similarly, the white metal for delivery in May declined by Rs 201, or 0.43 per cent, to Rs 45,900 per kg in business volume of 108 lots.
In the international market, silver fell 1.05 per cent at USD 20,19 an ounce in London.

Market analysts said a subdued trend in precious metals in the global markets after the Fed last month announced its first cut to its USD 85 billion monthly bond purchases citing an improving economy, led to fall in silver prices at futures trade here.