Silver falls Rs 302 on weak global cues

Taking weak cues from overseas markets, silver prices fell by Rs 302 to Rs 48,707 per kg in futures trade today as participants cut down their bets.
At the Multi Commodity Exchange, silver for delivery in December was trading lower by Rs 302 or 0.62 per cent to Rs 48,707 per kg in a business turnover of 185 lots.
Similarly, the white metal for delivery in September declined by Rs 290 or 0.61 per cent to Rs 47,540 per kg in a business volume of 2,689 lots.
In the international market, silver fell 0.27 per cent to USD 20.25 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.