 "Silver futures down 1% on global cues, weak spot demand")
Silver prices fell over 1 per cent to Rs 43,950 per kg in futures trade today, largely in tandem with a weakening trend in the global markets amid subdued domestic demand.
At the Multi Commodity Exchange, silver for delivery in July traded lower by Rs 479, or 1.08 per cent, to Rs 43,950 per kg in business turnover of 426 lots.
May silver shed Rs 229, or 0.99 per cent, to Rs 43,200 per kg in business volume of 426 lots.
Market analysts said a weak trend in the global markets on speculation central banks in Europe may sell holdings to raise funds and that a US recovery would curb demand for metal as a protection of wealth, mainly weighed on the precious metal prices at futures trade here.
Besides, a weakening trend in the domestic spot markets also put pressure on the prices, they said.
At the Multi Commodity Exchange, silver for delivery in July traded lower by Rs 479, or 1.08 per cent, to Rs 43,950 per kg in business turnover of 426 lots.
May silver shed Rs 229, or 0.99 per cent, to Rs 43,200 per kg in business volume of 426 lots.
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In the international market, silver traded 3.6 per cent lower at $22.49 an ounce in Singapore.
Market analysts said a weak trend in the global markets on speculation central banks in Europe may sell holdings to raise funds and that a US recovery would curb demand for metal as a protection of wealth, mainly weighed on the precious metal prices at futures trade here.
Besides, a weakening trend in the domestic spot markets also put pressure on the prices, they said.