Silver futures slide 0.38% on overseas cues

Silver prices moved down by 0.38 per cent to Rs 36,218 per kg in futures trading today as traders reduced positions amid negative cues from the overseas markets.
At the Multi Commodity Exchange, silver for delivery in far-month December declined by Rs 137, or 0.38 per cent, to Rs 36,218 per kg in a business turnover of 158 lots.
Similarly, the white metal for delivery in September moved down by Rs 113, or 0.32 per cent, to Rs 35,502 per kg in 8,230 lots.
Analysts said trimming of positions by participants, tracking a weak global trend following reports that Greece had finally struck a bailout reform deal with its creditors that keeps it in the Eurozone and investors weighed the timing of a US interest-rate increase mainly kept pressure on silver prices at futures trade.

Meanwhile, silver fell 1.1 per cent to USD 15.40 an ounce in London.