Silver futures weaken on Asian cues

Taking weak cues from Asian markets, silver prices declined 0.30% to Rs 57,420 per kg in futures trade today.

At the Multi Commodity Exchange, the May delivery fell Rs 175, or 0.30%, to Rs 57,420 per kg, with a business turnover of 4,383 lots.

The July contract shed Rs 179, or 0.30%, to Rs 59,050 per kg, with an open interest of 204 lots.

Analysts said besides a weak trend in the Asian region, absence of any trigger from domestic markets kept pressure on the silver prices at futures trade here.

Meanwhile, silver lost 0.03% to $32.98 an ounce in Singapore.