Silver futures fall 0.49% on weak overseas cues

Silver prices fell by 0.49 per cent to Rs 37,040 per kg in futures trade today as speculators trimmed their exposure amid a weak trend in global markets.
At the Multi Commodity Exchange, silver for delivery in May traded lower by Rs 183, or 0.49 per cent, to Rs 37,040 per kg in a business turnover of 344 lots.
Similarly, the metal for delivery in far-month July declined by Rs 182, or 0.48 per cent, to Rs 37,485 per kg in a business volume of one lot.
In the international market, silver fell 0.07 per cent to USD 15.26 an ounce in Singapore.

Analysts attributed the fall in silver in futures trade to a weak trajectory in global markets as equities climbed, eroding demand for a safe haven, and investors await a monetary policy review from the European Central Bank.