Silver futures remain weak, shed 0.16% on global cues

Silver prices fell further by 0.16 per cent to Rs 39,226 per kg in futures trade today as speculators cut bets, amid a weak trend overseas.

At the Multi Commodity Exchange, silver for delivery in September declined by Rs 64, or 0.16 per cent, to Rs 39,226 per kg in a business turnover of 1,433 lots.

Similarly, the white metal for delivery in December contracts shed Rs 47, or 0.12 per cent, to Rs 40,100 per kg in 13 lots.

Analysts said cutting down of positions by participants in line with a weak trend overseas kept silver prices down at futures trade.

Meanwhile, silver fell by 1.53 per cent to USD 15.78 an ounce in New York in Yesterday's trade.