Silver futures down 0.16% on weak global cues

Taking weak cues from overseas markets, silver prices softened by 0.16 per cent to Rs 41,624 per kg in futures trade today as participants cut down their bets.

At the Multi Commodity Exchange, silver for delivery in March fell by Rs 68, or 0.16 per cent, to Rs 41,624 per kg in business turnover of 383 lots.

Similarly, the white metal for delivery in far-month May edged down by Rs 24, or 0.06 per cent, to Rs 42,262 per kg in 2 lots.

Analysts said offloading of positions by participants in line with a weak global trend mainly led to the fall in silver prices at futures trade.
 

Globally, silver shed 0.38 per cent to USD 17.13 an ounce in Singapore.