Silver down 1.63% in futures trade on overseas cues

NEW DELHI: Tracking a weak trend overseas, silver prices moved down by 1.63 per cent to Rs 35,355 per kg in futures trade today as speculators engaged in trimming positions.

The exchange opened for the evening session as it remained closed in the morning for 'Muharram'.

At the Multi Commodity Exchange, silver for delivery in December tumbled by Rs 587, or 1.63 per cent to Rs 35,355 per kg in business turnover of 4,827 lots.

Likewise, the metal for delivery in March contract declined by Rs 561, or 1.53 per cent to Rs 36,066 per kg in 302 lots.

Market analysts attributed the fall in silver futures to a weak global trend. It dropped 1.3 per cent to $ 15.99 an ounce in New York.