Silver futures fall on sluggish demand, global cues

Silver prices fell by Rs 149 to Rs 52,618 per kg in futures trade today as speculators offloaded their positions on the back of weak global trend.

Also, sluggish demand in the spot market further dampened the sentiment.

At the Multi Commodity Exchange, silver for delivery in July fell by Rs 149, or 0.28%, to Rs 52,618 per kg, with a business turnover of 10,442 lots.

Likewise, the metal for delivery in September lost Rs 141, or 0.26%, to Rs 53,963 per kg in 3,657 lots.

Market analysts said besides sluggish demand in the spot market, weak trend in overseas market mainly kept pressure on silver prices at futures market.

Meanwhile, silver declined 0.3% to $26.84 an ounce in London.