Silver futures down 0.59% on weak overseas cues

Silver prices declined 0.59 per cent to Rs 38,220 per kg in futures trade today as speculators reduced their exposure amid a weak trend in global markets.
At Multi Commodity Exchange, silver prices for delivery in July contracts traded lower by Rs 227, or 0.59 per cent, to Rs 38,220 per kg in business turnover of 6,449 lots.
Similarly, the white metal prices for delivery in far-month September declined Rs 215, or 0.55 per cent, to Rs 38,769 per kg in business volume of 86 lots.
In the international market, silver prices traded 1.13 per cent down at USD 16.56 an ounce in London.

Analysts attributed the fall in silver prices in futures trade to a weak trajectory in global markets.