Silver futures slip on weak global cues

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Silver prices fell by Rs 19 at Rs 45,360 per kg in futures trade on Monday as investors trimmed their positions over weak global trend.

Silver for December delivery traded lower by Rs 19, or 0.04 percent, at Rs 45,360 per kg in a business turnover of 2,691 lots on the Multi Commodity Exchange (MCX).

Similarly, the white metal for March delivery fell by Rs 3, or 0.01 percent, to Rs 46,320 per kg in a business turnover of 21 lots.

In the international market, silver traded 0.26 percent lower at USD 17.58 an ounce in New York.

Analysts said muted demand, weak trend in precious metals in global markets and trimming of positions by speculators weighed on silver futures here. Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.