Silver futures down 0.70% on reduced offtake, global cues

Amid a weak trend overseas, silver prices slipped by 0.70 per cent to Rs 38,082 per kg in futures trade today.
At the Multi Commodity Exchange, silver for delivery in July moved down by Rs 267, or 0.70 per cent to Rs 38,082 per kg in business turnover of 5,675 lots.
Likewise, the metal for delivery in September traded lower by Rs 243, or 0.62 per cent to Rs 38,640 per kg in 226 lots.
Analysts said a weak trend in siver prices globally as the dollar strengthened against the euro after Greece struggled to reach a deal with creditors, kept pressure on silver prices at futures trade here.

Also a low demand at the domestic spot markets, mainly pulled down the prices of the metal.
Meanwhile, silver retreated 0.5 per cent to USD 16.66 an ounce in London.