Silver futures fall 0.29 on weak global cues

Silver prices fell Rs 165 to Rs 56,353 per kg in futures trade today as speculators offloaded their positions,tracking a weakening global trend.

At the Multi Commodity Exchange,silver for delivery in May fell by Rs 165,or 0.29 per cent,to Rs 56,353 per kg in business turnover of 3,790 lots.

Similarly,the white metal for delivery in the July contract lost Rs 155,or 0.27 per cent,to Rs 57,999 per kg in 437 lots.

Market analysts attributed to fall in silver futures to weakening global trend.

Meanwhile,silver dropped 0.2 per cent to USD 31.62 an ounce in Singapore.