Silver futures down Rs 185 on weak overseas cues

Silver prices were down by Rs 185 to Rs 39,480 per kg in futures trade on Tuesday as speculators reduced their exposure amid a weak trend in global markets.

At Multi Commodity Exchange, silver prices for delivery in July traded lower by Rs 185, or 0.47%, to Rs 39,480 per kg in business turnover of 673 lots.

Similarly, the metal for delivery in far-month September declined Rs 171, or 0.42%, to Rs 40,196 per kg in business volume of 17 lots.

In the international market, silver prices fell 0.64% to $16.25 an ounce in Singapore today.

Analysts attributed the fall in silver prices in futures trade to a weak trajectory in global markets on renewed possibility of the US Fed raising borrowing costs as early as June weighed.