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Silver futures decline by Rs 318 on global cues


New Delhi:  Silver prices fell sharply by Rs 318 to Rs 37,471 per kg in futures trade today as speculators reduced their positions amidst a weak global trend.

At the Multi Commodity Exchange, silver for delivery in May moved down by Rs 318, or 0.84 per cent, to Rs 37,471 per kg in a business turnover of 1,317 lots.

Also, the white metal for delivery in July fell by Rs 312, or 0.82 per cent, to Rs 37,927 per kg in 76 lots.

Analysts said besides profit-booking by speculators, a weak global trend weighed on silver prices at futures trade here.

Meanwhile, silver fell by 0.21 per cent to USD 16.69 an ounce in Singapore.

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