ET:Silver futures down 0.87 percent on profit-booking, global cues
NEW DELHI: Silver prices fell by 0.87 per cent to trade at Rs 55,058 per kg in futures today as speculators booked profits after recent gains amid a weakening trend in the global markets.
At the Multi Commodity Exchange, Silver for delivery in September dipped by Rs 484, or 0.87 per cent, to Rs 55,058 per kg in a business turnover of 455 lots.
In a similar fashion, the white metal for delivery in far-month December traded lower by Rs 425, or 0.74 per cent, at Rs 56,905 per kg in 127 lots.
Market analysts said profit-booking by speculators and a weak trend overseas as better-than-expected US economic data backed the case for the Federal Reserve to slow stimulus, mainly weighed on silver prices at futures here.
Meanwhile, silver fell by 0.60 per cent to 23.73 dollar an ounce in Singapore today.
