Silver futures down on weak global cues

Silver futures prices fell by Rs 488, or 0.92%, to Rs 52,282 per kg today, after participants reduced their positions amid a weak trend in global markets.

On the Multi Commodity market, silver for delivery in March contract fell by Rs 488, or 0.92%, to Rs 52,282 per kg, with a business turnover of 3,626 lots.

The white metal for delivery in May contract also lost Rs 472, or 0.88%, to Rs 53,378 per kg, with a business volume of 183 lots.

Market analysts attributed the fall in silver prices at futures trade to a subdued trend in overseas markets as signs that Europe's debt crisis was easing trimmed demand for metal.

Meanwhile, silver in Singapore fell 0.6% to $30.09 an ounce in early trade today.