Weak global cues drag down silver futures by 0.21%

Taking weak cues from overseas markets, silver prices drifted 0.21 per cent to Rs 39,664 per kg in futures trading today as speculators trimmed their commitments.
At the Multi Commodity Exchange, silver for delivery in May declined by Rs 83, or 0.21 per cent to Rs 39,664 per kg in a business turnover of 9,404 lots.
Likewise, the white metal for delivery in far-month July shed Rs 58, or 0.14 per cent to Rs 40,289 per kg in 865 lots.
Traders said the fall in silver prices was largely in tune with a weak trend in precious metals at global market.

In the international market, silver fell 0.35 per cent to USD 16.86 an ounce in Singapore.