Silver futures fall almost 1% on weak global trend

March contract declines 0.96%

Silver prices fell by Rs 603 to Rs 61,197 per kg in futures trade today after participants reduced positions amid a weak trend overseas.

At the Multi Commodity Exchange, silver for delivery in December fell by Rs 603, or 0.98%, to Rs 61,197 per kg, with a business turnover of 15,356 lots.

March silver moved down by Rs 608, or 0.96%, to Rs 62,898 per kg, with a business turnover of 562 lots.

Marketmen said a weak trend in global markets pulled down silver prices at futures trade.

Meanwhile, silver slumped 2.2% to $33.77 an ounce in Singapore.