 "Silver futures down by 1.1% on global cues")
Silver prices fell by Rs 408 to Rs 37,987 per kg in futures trade today as speculators reduced their exposures amid a weakening trend overseas.
At the Multi Commodity Exchange, silver for delivery in May traded lower by Rs 408, or 1.06%, to Rs 37,987 per kg in a business turnover of 472 lots.
On similar lines, the white metal for delivery in July declined by Rs 365, or 0.94%, to Rs 38,448 per kg in a business volume of three lots.
Market analysts said a weak trend in precious metals in the global markets after Federal Reserve Chair Janet Yellen signalled that the US central bank may be on course to raise interest rates later this year, kept pressure on silver futures here.
At the Multi Commodity Exchange, silver for delivery in May traded lower by Rs 408, or 1.06%, to Rs 37,987 per kg in a business turnover of 472 lots.
On similar lines, the white metal for delivery in July declined by Rs 365, or 0.94%, to Rs 38,448 per kg in a business volume of three lots.
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In the international market, silver lost 0.2% at $16.91 an ounce in Singapore.
Market analysts said a weak trend in precious metals in the global markets after Federal Reserve Chair Janet Yellen signalled that the US central bank may be on course to raise interest rates later this year, kept pressure on silver futures here.