Silver futures fall 0.31 pc on global cues

Silver prices fell by 0.31 per cent to Rs 38,950 per kg in futures trade today as speculators engaged in trimming positions amid a weak global trends.
At the Multi Commodity Exchange, silver for delivery in far-month September traded lower by Rs 122, or 0.31 per cent, to Rs 38,950 per kg in a business turnover of 159 lots.
Also, the white metal for delivery in July was down by Rs 110,or 0.29 per cent to Rs 38,400 per kg in business turnover of 8,393 lots.
In the international market, silver traded 0.81 per cent lower at USD 16.59 an ounce in London today.

Market analysts said a weak trend in precious metals in global markets as better-than-expected US data backed the case for policy makers to raise interest rates this year, reducing appeal for safe-haven asset, weighed on silver prices in futures trade here.