Silver weakens in futures trade on global cues

NEW DELHI: Silver prices fell 0.20 per cent to Rs 44,800 per kg in futures trade today as speculators reduced exposures on a weak trend in the precious metals overseas.

At the Multi Commodity Exchange, silver for delivery in September fell by Rs 90, or 0.20 per cent, to Rs 44,800 per kg in a business turnover of 2,373 lots.

Similarly, the white metal for delivery in current month was down by Rs 8, or 0.02 per cent, to Rs 44,290 per kg in a business volume of 137 lots.

Market analysts said a subdued trend overseas due to the recent rally in precious metals has dampened physical demand and led to a fall in silver prices at futures trade here.

In the international market, silver fell 4 cents to USD 20.99 an ounce in Singapore.