Silver futures soften on weak global cues

NEW DELHI: Silver futures prices softened by Rs 46 to Rs 58,351 per kg today, as speculators reduced their positions, tracking a weak trend in global markets.

At the Multi Commodity Exchange, silver for delivery in July month declined by Rs 46, or 0.08 per cent, to Rs 58,351 per kg in business turnover of 144 lots.

Similarly, the metal for delivery in May moved down by Rs 41, or 0.07 per cent, to Rs 56,810 per kg in 5,246 lots.

Market analysts said speculators reduced their positions, tracking a weak trend in overseas market mainly kept pressure on silver prices at futures trade.

Meanwhile, silver traded lower by 0.06 per cent to USD 32.15 an ounce in Singapore. PTI KPS RS RAH YB 03221327 NNNN