Silver futures down Rs 149 on weak overseas cues

Silver prices were down by Rs 149 to Rs 40,778 per kg in futures trade today as speculators reduced their exposure amid a weak trend in global markets.
At the Multi Commodity Exchange, silver prices for delivery in far-month July traded lower by Rs 149, or 0.36 per cent, to Rs 40,778 per kg, in a business turnover of 175 lots.
Similarly, the metal for delivery in May declined Rs 147, or 0.36 per cent, to Rs 40,269 per kg, in a business volume of 776 lots.
In the international market, silver prices fell 2.01 per cent to USD 17.57 an ounce in New York yesterday.

Analysts attributed the fall in silver prices in futures trade to a weak trajectory in global markets.