Silver futures weaken on global cues

Silver prices weakened by Rs 113 to Rs 41,913 per kg in futures trade today, as speculators reduced their positions in line with weakening global trend.

At the Multi Commodity Exchange, silver for December month declined by Rs 113 or 0.27 per cent to Rs 41,913 per kg in single lot.

Similarly, the white metal for delivery in March month traded lower by the same margin to Rs 42,118 per kg in just one lot.

Analysts said speculators reducing their positions on the back of weakening trend in global markets led to the fall in silver prices at futures trade.

Meanwhile, silver traded lower by 1.29 per cent to $27.51 an ounce in New York last evening.