Silver futures slide 0.39% due to weak global cues

Silver prices softened by 0.39 per cent to Rs 42,734 per kg in futures trade today as traders cut down their bets at prevailing levels amid a weak global trend.

At the Multi Commodity Exchange, silver for delivery in March fell by Rs 166, or 0.39 per cent, to Rs 42,734 per kg in a business turnover of 292 lots.

The white metal for delivery in far-month May contracts fell by a similar margin to trade at Rs 43,278 per kg in 22 lots.

Market analysts attributed the weakness in silver futures to a bearish global cues.

Globally, silver traded marginally 0.03 per cent lower at USD 17.94 an ounce in Singapore.