Silver falls Rs 62 on weak global cues

Silver prices declined by Rs 62 to Rs 37,200 per kg in futures trade today as participants trimmed their positions amid weak global cues.
At the Multi Commodity Exchange, silver for delivery in September was trading lower by Rs 62 or 0.17 per cent to Rs 37,200 per kg in a business turnover of 241 lots.
The white metal for delivery in far-month December too lost Rs 58 or 0.15 per cent to Rs 37,790 per kg in a business volume of six lots.
In the international market, silver was trading 0.06 per cent down at USD 16.23 an ounce in Singapore today.

Marketmen attributed the fall in silver prices at futures trade to a weak trend in precious metals overseas as the dollar jumped after strong jobs data report for July, diminishing the appeal of the precious metals.