Silver futures down 0.76 pc; hurt by weak global cues

Taking weak cues from overseas markets, silver prices dropped by 0.76 per cent to Rs 41,400 per kg in futures trading today, as participants cut down their bets.
Also, profit-booking at prevailing levels by speculators weighed on silver prices.
At the Multi Commodity Exchange, silver for delivery in March was trading lower by Rs 318, or 0.76 per cent, to Rs 41,400 per kg, in a business turnover of 759 lots.
Similarly, the white metal for delivery in far-month May was down by Rs 298, or 0.70 per cent, to Rs 42,000 per kg in 21 lots.
Traders said offloading of positions by participants due to a weak global trend mainly led to the fall in silver prices at futures trade.

Globally, silver shed 0.26 per cent to USD 17.01 an ounce in Singapore.