New Delhi: Silver prices moved down by 0.53 percent to Rs 62,600 per kg in futures trade on Wednesday after speculators trimmed positions amid negative cues from the global markets.

At the Multi Commodity Exchange, silver for delivery in December moved down by Rs 334, or 0.53 percent, to Rs 62,600 per kg, with a business turnover of 2,419 lots.

Likewise, the white metal for delivery in March declined by Rs 329, or 0.51 percent, to Rs 64,308 per kg in 90 lots.

Marketmen said speculators offloaded positions in line with a weak global trend ahead of data that may add to signs of economic weakness in Europe, reducing demand for the precious metals that kept pressure on silver prices at futures trade.

Silver traded a shade lower at USD 34.29 an ounce in Singapore.

(Agencies)

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