Silver futures extend losses, fall 0.62% on global cues

Silver prices fell further by 0.62 per cent to Rs 39,188 per kg in futures trading today as speculators engaged in trimming their positions, tracking a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in March fell by Rs 245, or 0.62 per cent, to Rs 39,188 per kg, in a business turnover of 1,701 lots.
On similar lines, the white metal for delivery in far-month May moved down by Rs 203, or 0.51 per cent, to Rs 39,800 per kg in 22 lots.
Market analysts said offloading of positions by traders in line with a weak trend overseas mainly kept silver prices lower at futures trade.

Globally, silver traded 0.19 per cent down at USD 15.92 an ounce in Singapore.