Silver falls 0.68% in futures trade on global cues

Silver futures moved down by 0.68% to Rs 51,492 per kg today amid weak cues from global markets.

Subdued demand in the physical market also weighed on silver futures prices here.

At the Multi Commodity Exchange, March silver fell by Rs 353, or 0.68%, to Rs 51,845 per kg in 7,839 lots.

The May contract declined by Rs 357, or 0.67%, to Rs 52,607 per kg in 327 lots.

Market analysts said a weak trend in global markets on concerns that Europe's debt crisis may escalate drove the euro lower against the dollar, reducing demand for the metal as a safe haven investment.

Meanwhile, silver fell by 0.4% to $28.66 an ounce in Singapore.