Silver futures slip 0.56% on global cues

Tracking a weak trend overseas, silver prices eased by 0.56 per cent to Rs 38,174 per kg in futures trading today as speculators reduced exposure.
At the Multi Commodity Exchange, silver for delivery in March moved down by Rs 215, or 0.56 per cent, to Rs 38,174 per kg in a business turnover of 712 lots.
Likewise, the white metal for delivery in May contracts lost Rs 208, or 0.53 per cent, to Rs 38,709 per kg in 132 lots.
Analysts said offloading of positions by traders in step with a weak trend in global markets influenced silver prices at futures trade.

Globally, silver fell 0.15 per cent to USD 16.40 an ounce in Singapore.