Silver futures prices fall 0.29% on overseas cues, profit-booking

Written by PTI | New Delhi | Updated: Sep 1 2014, 17:22pm hrs
Silver prices fell 0.29 per cent to Rs 42,131 per kg in futures trade today as speculators partially offloaded positions amidst a weak global trend.

At the Multi Commodity Exchange of India Ltd (MCX), silver for delivery in September moved down by Rs 124, or 0.29 per cent, to Rs 42,131 per kg in a business turnover of 67 lots.

Similarly, the white metal for delivery in December declined by Rs 110, or 0.26 per cent, to Rs 42,835 per kg in 158 lots.

Market analysts said speculators trimmed positions in tandem with a weak global trend, influencing silver prices at futures trade here.

Besides, profit-booking at prevailing levels too weighed on silver prices, they said.

Meanwhile, silver traded lower at USD 19.49 an ounce in Singapore today from USD 19.46 on August 29.