 "Silver down by 0.5% on lower global cues")
Amid a weakening trend overseas, silver prices dropped by Rs 199 to Rs 42,945 per kg in futures trade today as speculators cut down their bets.
Silver for delivery in September was trading lower by Rs 199, or 0.46%, to Rs 42,945 per kg, in a business turnover of 258 lots in futures trading at the Multi Commodity Exchange (MCX).
The white metal for delivery in July lost Rs 185, or 0.44%, at Rs 42,104 per kg, with a business turnover of 1,150 lots.
Market analysts said a weak trend in precious metals in global markets as precious metals hold decline on looming US rate rise, kept pressure on silver futures.
Silver for delivery in September was trading lower by Rs 199, or 0.46%, to Rs 42,945 per kg, in a business turnover of 258 lots in futures trading at the Multi Commodity Exchange (MCX).
The white metal for delivery in July lost Rs 185, or 0.44%, at Rs 42,104 per kg, with a business turnover of 1,150 lots.
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In the international market, silver traded 0.37% lower at $17.66 an ounce in Singapore.
Market analysts said a weak trend in precious metals in global markets as precious metals hold decline on looming US rate rise, kept pressure on silver futures.