Silver futures down 0.28% on subdued demand, overseas cues

Amid weak global trend and low domestic demand, silver prices were down by 0.28 per cent to Rs 45,450 per kg in futures market today as speculators trimmed positions.

At the Multi Commodity Exchange, silver for delivery in September traded Rs 129, or 0.28 per cent, lower at Rs 45,450 per kg in business turnover of 332 lots.

Similarly, the white metal for delivery in December lost Rs 122, or 0.26 per cent to Rs 46,272 per kg in 5 lots.

Analysts said apart from subdued demand in the spot market, weak trend in global markets as investors weighed the outlook for US monetary policy against increased geopolitical tensions, mainly put pressure on silver prices at futures trade.

Meanwhile, silver fell 0.2 per cent to USD 21.11 an ounce in Singapore.