IE:Silver futures down 0.67 pct on profit-booking, global cues
Silver prices fell by 0.67 per cent to trade at Rs 50,870 per kg in futures trade 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 345, or 0.67 per cent, to Rs 50,870 per kg in business turnover of 759 lots.
In a similar fashion, the white metal for delivery in far-month December contracts traded Rs 336, or 0.64 per cent lower, at Rs 52,307 per kg in 51 lots.
Market analysts said trimming of positions by speculators to book profits and a weak trend overseas with investors awaiting minutes from the US central bank's July policy meeting for clues on when it will begin scaling back its commodities-friendly stimulus steps, mainly weighed on silver prices at futures here.
Meanwhile, silver fell by 0.95 per cent to 22.97 dollar an ounce in Singapore today.
