Silver futures under pressure on Asian cues, shed 1.44% (Rs 52,938 per kg)

Metallic prices fell by 1. 44% to Rs fifty two, 938 per kg in early trade in the actual futures market today after speculators reduced their publicity, taking cues from a weak trend overseas.

In the Multi Commodity Exchange, March silver fell by Rs 776, or even 1. 44%, to Rs 52, 938 per kg, by having an open interest for 6, 197 lots.

The Might delivery lost Rs 779, or 1. 42%, in order to Rs 54, 110 per kg, with a trading amount of 265 lots.

In the Asia region, silver dropped by 3. 19% to $28. 79 an oz in early trade today.

Market analysts said ratings agency Fitch warning of the possible downgrade of France's sovereign debt kept investors about the edge about the situation in Europe, reducing the appeal for gold and silver.