Silver futures fall 0.22% on overseas cues

Silver prices fell 0.22 per cent to Rs 38,644 per kg in futures trade Monday as speculators cut positions amid a weak trend overseas.

At the Multi Commodity Exchange, silver for delivery in May moved down by Rs 84, or 0.22 per cent, to Rs 38,644 per kg in business turnover of 842 lots.

Similarly, the April contract of white metal fell by Rs 80, or 0.21 per cent to Rs 38,679 per kg in 1,265 lots.

Analysts said cutting down of positions by speculators in line with a weak trend overseas led to the fall in futures.

Globally, silver was quoting lower by 0.20 per cent to USD 15.38 an ounce in New York.