Silver falls Rs 111 on weak global cues

Taking weak cues from overseas markets, silver prices fell by Rs 111 to Rs 37,715 per kg in futures trade today as participants cut down their bets.

At the Multi Commodity Exchange, silver for delivery in far-month September was trading lower by Rs 111, or 0.29 per cent, to Rs 37,715 per kg, in a business turnover of 690 lots.

Similarly, the white metal for delivery in July declined by Rs 105, or 0.28 per cent, to Rs 37,145 per kg, in a business volume of 11 lots.

In the international market, silver fell 0.22 per cent to USD 16.07 an ounce in Singapore today.
 

Traders said the fall in silver prices at futures trade was largely in step with a weak trend in precious metals in global markets.