Weak global cues drag down silver futures by 0.73%

Silver prices fell by 0.73 per cent to Rs 33,640 per kg in futures trade in evening session today after speculators lightened positions amid a weak trend overseas.
The exchange opened for the evening session as it remained closed in the morning for 'Gurunanak Jayanti'.
At the Multi Commodity Exchange, silver for delivery in December March fell by Rs 249, or 0.73 per cent, to Rs 33,640 per kg in a business turnover of 693 lots.
Likewise, the white metal for delivery in far-month March next year contract was trading down by Rs 207, or 0.60 per cent to Rs 34,291 per kg in 81 lots.

Analysts said a weak trend in global markets as investors returned their focus to expectations that the US Federal Reserve will raise interest rates next month, eroding demand for the precious metals, kept pressure on silver futures here.
Meanwhile, silver declined 0.77 per cent to USD 14.09 an ounce in London.