Silver futures slump by Rs 214 per kg on weak global cues

New Delhi: Silver futures traded lower by Rs 214 at Rs 46,166 per kg on Friday as participants cut down their bets, taking weak cues from overseas markets.

On the Multi Commodity Exchange, silver contracts for December delivery dropped by Rs 214, or 0.46 per cent, to Rs 46,166 per kg in a business turnover of 2,614 lots. Similarly, the white metal contracts for March delivery traded lower by Rs 289, or 0.61 per cent, at Rs 47,056 per kg in a business volume of 105 lots. In the international market, silver fell 0.37 per cent to USD 17.85 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.