Silver futures fall 0.29% on weak global cues

Silver prices fell by 0.29% to Rs 38,656 per kg in futures market today as speculators reduced positions on weak cues from global markets.

At the Multi Commodity Exchange, silver for delivery in December fell by Rs 111, or 0.29%, to Rs 38,656 per kg in a business turnover of 438 lots.

In a similar fashion, the white metal for delivery in far-month March next year lost Rs 94, or 0.24%, to Rs 39,384 per kg in 8 lots.

Market analysts said speculators reduced their positions on weak cues from the global market which kept pressure on silver prices at futures trade.

Meanwhile, silver dropped 0.66% to $17.40 an ounce in Singapore today.