Silver falls Rs 160 on weak global cues

Taking weak cues from overseas markets, silver prices fell by Rs 160 to Rs 41,365 per kg in futures trade today as participants cut down their bets.
At the Multi Commodity Exchange, silver for delivery in March was trading lower by Rs 160, or 0.39 per cent to Rs 41,365 per kg in a business turnover of 408 lots.
Similarly, the white metal for delivery in May declined by Rs 80, or 0.19 per cent to Rs 42,019 per kg in a moderate business volume of 5 lots.
In the international market, silver fell 0.47 per cent to USD 16.91 an ounce in Singapore today.

Traders said the fall in silver prices at futures trade was largely in step with a weak trend in precious metals in global markets.