Silver futures down 0.63% on overseas trend
At the Multi Commodity Exchange, silver for delivery in March fell by Rs 398, or0.63 per cent, to Rs 62,550 per kg in a business turnover of 3,157 lots.
Similarly, the metal for delivery in May traded lower by Rs 360, or 0.56 per cent, to Rs 63,989 per kg with a volume of business of 105 lots.
Analysts attributed fall in silver futures prices to a weak trend in global markets as some investors sold the metal after prices climbed to a one-week high amid speculation the US Federal Reserve will expand monetary stimulus to boost the economy.
Meanwhile, in Singapore silver prices fell from one-week high by dropping 0.80 per cent, to USD 32.99 an ounce.
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