Silver down on weak global cues

Silver futures closed lower in the domestic market on Wednesday as participants cut down their bets taking weak cues from overseas markets.

Traders said the fall in silver prices at the futures trade was largely in step with a weak trend in precious metals in global markets.

At the MCX, Silver futures for September 2016 contract closed at Rs 45,880, per 1 kg, down by 0.98 per cent after opening at Rs 46,359, against the previous closing price of Rs 46,336. It touched the intra-day low of Rs 45,728.

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