Silver futures down 0.54 pc on overseas cues

Silver prices moved down by 0.54 per cent to Rs 39,577 per kg in futures trade today as speculators cut down bets taking negative cues from the global market.

At the Multi Commodity Exchange, silver for delivery in September fell by Rs 216, or 0.54 per cent, to Rs 39,577 per kg in a business turnover of 635 lots.

Likewise, the white metal for delivery in December declined by Rs 199, or 0.49 per cent, to Rs 40,440 per kg in 3 lots.

Analysts attributed the fall in silver prices to offloading of positions by participants in tandem with a weak trend overseas.

 

Meanwhile, silver fell by 0.75 per cent to USD 15.90 an ounce in Singapore.