Silver futures slip Rs 334 per kg on weak global cues

Silver futures slumped by Rs 334 to Rs 47,027 per kg on Wednesday as participants cut down their bets taking weak cues from overseas markets. On the Multi Commodity Exchange, silver contracts for December delivery tumbled Rs 334, or 0.71 percent, to Rs 47,027 per kg in a business turnover of 2,662 lots.

Similarly, the white metal for delivery in March next year was trading lower by Rs 290, or 0.6 percent, to Rs 48,068 per kg in a business volume of 171 lots. In the international market, silver prices fell 0.12 percent to USD 18.02 an ounce in New York. Traders said the fall in silver prices at futures trade was largely in line with a weak trend in precious metals in global markets.