Silver futures down on reduced offtake,global cues

Silver prices moved down by 0.30 per cent to Rs 60,550 per kg in futures trade today on reduced offtake,driven by a weak trend in overseas market.

At the Multi Commodity Exchange,silver for delivery in December moved down by Rs 182,or 0.30 per cent,to Rs 60,550 per kg,with a business turnover of 6,067 lots. Similarly,the white metal for delivery in March lost Rs 182,or 0.29 per cent,to Rs 62,345 per kg in 192 lots.

Marketmen said besides reduced offtake by traders at existing higher levels,a weak trend in overseas market mainly kept pressure on silver prices at futures market.

Meanwhile,silver slid 0.3 per cent to USD 32.69 an ounce in Singapore.