Silver falls Rs 177, hurt by weak global cues

Taking weak cues from overseas markets, silver prices tumbled Rs 177 to Rs 40,394 per kg in futures trade today, as participants reduced exposure.
At the Multi Commodity Exchange, silver for delivery in far-month July lost Rs 177, or 0.44 per cent, to Rs 40,394 per kg, in a business turnover of 12 lots.
Similarly, the white metal for delivery in May was trading lower by Rs 153, or 0.38 per cent, to Rs 39,930 per kg, in a business volume of 12 lots.
In the international market, silver slumped 0.65 per cent to USD 16.84 an ounce in New York yesterday.

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