Silver futures slip 0.24% on weak overseas cues

Taking negative cues from the global market, silver prices traded lower by 0.24 per cent to Rs 39,822 per kg in futures trade today as speculators cut their bets.

At the Multi Commodity Exchange, silver for delivery in September fell by Rs 97, or 0.24 per cent, to Rs 39,822 per kg in a business turnover of 555 lots.

Likewise, the white metal for delivery in July contracts shed Rs 20, or 0.05 per cent, to Rs 39,200 per kg in 4 lots.

Analysts said the weakness in silver prices at futures trade was mostly due to offloading of positions by participants in tandem with a weak trend overseas.

 

Globally, silver fell 0.25 per cent to USD 16.02 an ounce in Singapore.