Silver down 0.8% on global cues

Silver prices fell by 0.81% to Rs 47,635 per kg in futures trade today after speculators trimmed positions on weak cues from the global market.

At the Multi Commodity Exchange, silver for delivery in March fell by Rs 389, or 0.81%, to Rs 47,635 per kg in a business turnover of 751 lots.

Also, the white metal for delivery in May declined by Rs 398, or 0.81%, to Rs 48,640 per kg in business volume of 82 lots.

Market analysts said a subdued trend in the global markets amid expectations that Federal Reserve minutes will show policy makers backing further stimulus cut, triggered offloading of positions by speculators that led to fall in silver prices at futures trade here.
 
In the international market, silver fell 0.70% to $21.77 an ounce in Singapore.