Silver futures remain weak on subdued overseas cues

NEW DELHI: Silver prices fell further by 1.49 per cent to Rs 39,550 per kg in futures trading today as speculators trimmed positions,tracking a weak global trend.

At the Multi Commodity Exchange, silver for delivery in far-month May moved down by Rs 600, or 1.49 per cent to Rs 39,550 per kg in business turnover of 284 lots.

In a similar fashion, the white metal for delivery in March contracts traded lower by Rs 572, or 1.45 per cent to Rs 38,900 per kg in 13,965 lots.

Market analysts said a weak trend in precious metals in the global markets weighed on silver futures.

Meanwhile, silver fell 0.9 per cent to $17.84 an ounce in Singapore.