Silver futures down 0.18 pc on overseas cues

NEW DELHI, June 21: Taking negative cues from the global market, silver prices drifted lower by 0.18 per cent to Rs 39,556 per kg in futures trade in futures trade today as speculators cut down their bets.

At the Multi Commodity Exchange, silver for delivery in July fell by Rs 70, or 0.18 per cent to Rs 39,556 per kg in business turnover of 352 lots.

Likewise, the white metal for delivery in far-month September contracts shed Rs 65, or 0.16 per cent to Rs 40,229 per kg in 16 lots.

Analysts said the slide in silver prices was mostly due to offloading of positions by participants, triggered by a weak trend in global markets.

Meanwhile, silver fell 0.23 per cent to USD 16.24 an ounce in Singapore. (PTI)

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