Silver futures remain weak, shed 0.27% on global cues

Mumbai-India (Mar 13)  Silver prices drifted further lower by 0.27 per cent to Rs 39,162 per kg in futures trade today as speculators cut positions, tracking a weak trend overseas. At the Multi Commodity Exchange, silver for delivery in far-month July fell by Rs 107, or 0.27 per cent, to Rs 39,162 per kg in a business turnover of 5 lots.

Similarly, the white metal for delivery in May contracts was trading lower by Rs 80, or 0.21 per cent, to Rs 38,675 per kg in 442 lots.

Analysts said offloading of positions by participants in line with a subdued trend overseas led to the fall in silver prices at futures trade.

Globally, silver fell 0.33 per cent to USD 16.45 an ounce in Singapore.

BusinessLine