Silver futures down 0.57 per cent on weak global cues

NEW DELHI: Silver futures fell by 0.57 per cent to Rs 42,175 per kg today as speculators engaged in trimming positions, tracking a weak trend overseas.

At the Multi Commodity Exchange, silver for delivery in May traded lower by Rs 241, or 0.57 per cent, to Rs 42,175 per kg in a business turnover of 855 lots.

Similarly, the white metal for delivery in July declined by Rs 243, or 0.56 per cent, to Rs 42,935 per kg in a business volume of 39 lots.

In the international market, silver traded 0.71 per cent lower at USD 19.49 an ounce in Singapore.

Market analysts said a subdued trend in precious metals in the global markets as improving US economy raised bets that the Federal Reserve may continue to pare its monthly bond buying programme in the coming months, reducing the appeal for safe-haven, led to fall in silver prices at futures trade here.