Silver futures down 0.51 per cent on global cues

New Delhi: Silver prices fell by 0.51 percent to Rs 39,997 per kg in futures trade as speculators engaged in trimming positions against the backdrop of weak global trends.

At the Multi Commodity Exchange, silver for delivery in July traded lower by Rs 205, or 0.51 per cent, to Rs 39,997 per kg in business turnover of 416 lots. The white metal for delivery in far-month September declined by a similar margin to trade at Rs 40,110 per kg in 13 lots.

In the international market, silver traded 0.18 per cent lower at USD 18.99 an ounce, the lowest since May 2 in Singapore. Market analysts trend in precious metals was weak in global markets after encouraging US economic data backed the case for the Federal Reserve to keep on reducing monetary stimulus. It has reduced the appeal of the precious metals, weighing on silver prices in the futures trade here.