Silver sheds 0.31% on global cues

Taking weak cues from global markets, silver prices fell by 0.31 per cent to Rs 37,189 per kg in futures trading Wednesday as speculators trimmed their positions.

At the Multi Commodity Exchange, silver for delivery in May declined by Rs 114, or 0.31 per cent to Rs 37,189 per kg in business turnover of 1 lot.

Likewise, the white metal for delivery in March shed Rs 17, or 0.05 per cent to Rs 36,606 per kg in 1119 lots.

Analysts attributed the fall in silver futures to off-loading of positions by traders on the back of a weak trend overseas.

Globally, silver traded lower by 0.04 per cent to USD 14.12 an ounce in Singapore.